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Finally, GST is coming in July: A primer on India's biggest tax reform

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With the Goods and Services Tax (GST) council approving the remaining two of the five bills concerning the tax regime on Thursday, India's most ambitious indirect-tax reform is likely to roll out from July 1. The GST Council capped the proposed cess on aerated drinks and luxury automobiles at 15% and on cigarettes at 290%. It also approved the State GST and Union Territory GST laws. 

Nod to these laws along with changes in the Central GST and Integrated-GST laws paves way for the introduction of the legislations in Parliament and state assemblies as early as next week. 

So, how well do you know your GST? Here's a brief explanation of its various aspects........

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