The government today introduced a Constitution Amendment Bill in the Lok Sabha with a view to create a common market for goods and services and replace the existing indirect taxation regime with a uniform Goods and Services Tax (GST) system. The Bill that was tabled in the Lok Sabha by the finance minister Mr. Pranab Mukherjee. Now, the Bill is likely to be referred to the Parliamentary Standing Committee for scrutiny.The proposed GST will subsume most indirect taxes like excise duty and service tax at the central level and VAT on the state front, besides local levies. However, crude petroleum, diesel, petrol, aviation turbine fuel, natural gas and alcohol for human consumption have been kept out of the GST ambit. The Bill provides for creation of a GST Council to be headed by the Union Finance Minister. The Council will be empowered to recommend tax rates and exemption and threshold limits for good and services. The Council, which is to be constituted by the President, is proposed to be chaired by the Union Finance Minister, with the Minister of State for Finance, in-charge of revenue, as member. Besides, the minister in charge of finance or taxation, or any other minister nominated by each state government, will be members. It also proposed a GST Dispute Settlement Authority, created by Parliament, to deal with grievances of the Centre and the state with regard to GST.