<P> In 2014, the NDA government was elected into power, this time under the leadership of Narendra Modi . With the consequential dissolution of the 15th Lok Sabha, the GST Bill--approved by the standing committee for reintroduction--lapsed . Seven months after the formation of the Modi government, the new Finance Minister Arun Jaitley introduced the GST Bill in the Lok Sabha, where the BJP had a majority . In February 2015, Jaitley set another deadline of 1 April 2017 to implement GST . In May 2016, the Lok Sabha passed the Constitution Amendment Bill, paving way for GST . However, the Opposition, led by the Congress, demanded that the GST Bill be again sent back to the Select Committee of the Rajya Sabha due to disagreements on several statements in the Bill relating to taxation . Finally in August 2016, the Amendment Bill was passed . Over the next 15 to 20 days, 18 states ratified the GST Bill and the President Pranab Mukherjee gave his assent to it . </P> <P> A 22 - members select committee was formed to look into the proposed GST laws . State and Union Territory GST laws were passed by all the states and Union Territories of India except Jammu & Kashmir, paving the way for smooth rollout of the tax from 1 July 2017 . the Jammu and Kashmir state legislature passed its GST act on 7 July 2017, thereby ensuring that the entire nation is brought under an unified indirect taxation system . There was to be no GST on the sale and purchase of securities . That continues to be governed by Securities Transaction Tax (STT). </P> <P> The Goods and Services Tax was launched at midnight on 1 July 2017 by the former President of India, Pranab Mukherjee, and Prime Minister of India, Narendra Modi . The launch was marked by a historic midnight (30 June--1 July) session of both the houses of parliament convened at the Central Hall of the Parliament . Though the session was attended by high - profile guests from the business and the entertainment industry including Ratan Tata, it was boycotted by the opposition due to the predicted problems that it was bound to lead to for the middle and lower class Indians . It is one of the few midnight sessions that have been held by the parliament - the others being the declaration of India's independence on 15 August 1947, and the silver and golden jubilees of that occasion . </P> <P> Members of the Congress boycotted the GST launch altogether . They were joined by members of the Trinamool Congress, Communist Parties of India and the DMK . The parties reported that they found virtually no difference between the GST and the existing taxation system, claiming that the government was trying to merely rebrand the current taxation system . They also argued that the GST would increase existing rates on common daily goods while reducing rates on luxury items, and affect many Indians adversely, especially the middle, lower middle and poorer classes . </P>

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