The Union Territory Goods and Services Tax Act, 2017

The Union Territory Goods and Services Tax Act, 2017 is an act that governs the levy and collection of taxes on goods and services within the Union Territories of India. It was enacted to provide a unified taxation system that replaced the earlier indirect tax regime. The Act defines the provisions for registration, payment, return filing, and assessment of tax liability. It also defines the various offenses and penalties in case of non-compliance. The Act provides a clear framework for the GST council to decide on the rates of tax, exemptions, and other related matters. The Union Territory Goods and Services Tax Act, 2017 is an important step towards the simplification of the taxation system in India.