One of the the biggest tax reforms since Independence, GST will create a national market for goods and services

The Goods and Services Tax (Amendment) Bill — officially known as, the Constitution (122nd Amendment) (GST) Bill, 2014 — is believed to be the biggest tax reform since independence. On Wednesday, the Rajya Sabha passed the bill which was approved by the Lok Sabha in May 2015. EY explains how different sectors are likely to be impacted by its implementation and the necessary action they should take.