The Centre on Saturday released three draft laws – the central Goods and Services Tax, the integrated GST and the compensation for states. Revenue Secretary Hasmukh Adhia said the Bills would be discussed and finalised by the GST Council during its meeting on December 2-3, The Hindu reported.

The draft central GST law, which is based on the model GST law, has proposed capping the tax rate for both the Centre and the states at 15%. The law also has proposed anti-profiteering measures to ensure that consumers are given the maximum benefit of lower rates under the GST regime. Meanwhile, the draft integrated GST legislation – that deals with the inter-state movement of goods and services – has capped its rate at 28%.

The legislation on the compensation for states proposed that the Centre will pay a provisional amount as compensation every quarter. Funds for the compensation will be raised through levying a cess on luxury items such as tobacco. The final annual compensation will be decided after an audit carried out by the Comptroller and Auditor General, according to PTI.

The Centre is likely to table the three laws in Parliament during the second week of December as part of its efforts to the ensure the rollout of GST by April 1, 2017. The GST Bill got President Pranab Mukherjee’s approval on September 8, after being ratified by 16 states. It was passed by the Rajya Sabha on August 3. It seeks to replace India’s complicated tax regime, comprising 17 different charges, with a single levy.