Eleven years after the GST was first proposed by former Finance Minister P. Chidambaram, in 2005, Parliament on Monday passed the Bill.

Lok Sabha passed the Constitution (122nd Amendment) Bill, 2014, as amended by the Rajya Sabha last week.

Ratification required

As the constitutional amendment bill involves division of powers between Centre and States, the bill is required to be ratified by atleast half of the states before going to President for assent.