The most awaited Constitution Amendment bill was stuck in the last two sessions to roll-out Goods and Service Tax bill in the Parliament. But now, the Finance Minister Mr. Arun Jaitley is confident regarding the GST Bill. In the next session, the members of opposition party will be reduced and ruling BJP will get more majority in the upper house. Therefore, the Bill will be rolled out in Budget session sure.
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Mr. Arun Jaitely told the reporters that the next session will be started in the last week of February, “The next session is going to be extremely important. And half way through the next session, the numbers of the Upper House are also going to change. So I am reasonably optimistic, as far as the next session is concerned, that we may be able to push it through.”
FM said, when addressing the officer trainees of Indian Revenue Service “everybody supports it” and it is a consensus for GST among all parties. “The GST is already delayed. Ideally it should have come much earlier.” The GST bill will create a single market for one dozen levies. It will also subsume all indirect taxes such as excise duty, service tax and sales tax in to one uniform rate and reduce extra taxation burden. But the Bill is stuck in the Parliament due to objections of Congress-Led opposition.
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“I continue to discuss with the states and with all political groups, so that we can ensure its safe passage in the Upper House.” He told that the idea of GST Bill was first born in 2006 and introduced in 2011.
There are three more legislations Central GST (CGST), State GST (SGST) and Integrated GST (IGST) He said, “Though people have been discussing this since the 1990s, radical idea of this kind takes time before a consensus can develop.”
Mr. Jaitley further added, “And those have been worked out. We are in the stage of readiness as far as those legislations are concerned which will have to be passed then by the Central Government and by the State governments.”
