Latest & Trending GST News

The time of winter session, a lot of clamor is going on in parliament regarding the important regime GST. The opposition parties have their own demand on GST and have created difficult situations for the BJP government to roll-out the Bill on its deadline. Between hubbub of parliament, the Indian government may take decision towards the much-awaited crucial reform-Goods and Service Tax. The government may scrap 1% inter-state tax as the main opposition party-Congress wants to remove this addition tax. If the government accepts this demand of opposition then the Bill will be passed on 1st April, 2016, otherwise it may be missed-out from its deadline.

BSP Chief Mayawati on Monday taken a side of NDA Government’s proposed legislation on the Goods and Services Tax (GST) and also slammed the BJP Government for Intolerance in the country. Mayawati continued speaking about the GST bill in Rajya Sabha, said, “If your government is fully confident that bringing the GST bill is in the interest of the nation, it will bring a change in the economy and give a boost to it, the BSP will definitely back it. Our party supports the bill in Parliament.”

Last Friday witnessed the presence of PM Modi, Congress president Sonia Gandhi, Ex-Prime Minister Manmohan Singh, Finance Minister Arun Jaitley and Parliamentary affairs Minister Venkaiah Naidu in the 45-minute meeting, held at 7 Race Course, prime minister’s official residence. Gandhi unlike the rest of four, spoke the most about the GST Bill, which might get approved soon. Jaitley and Naidu did all the explanations on the viscous ideas about the same and also underlined the need for smooth functioning of the winter session of the parliament.

President of the Indian National Congress party-Sonia Gandhi and ex-PM Mr. Manmohan visited the PM house on Friday evening as the current PM Modi invited them on tea to discuss about the GST Bill that is government’s most vital tax reform.

There are a lot of rumors regarding India’s biggest reform system GST. The Winter Session has been started from yesterday. The meeting of all-party held in the parliament on 26th November, 2015 to discuss on the GST panel. The Central government has claimed that 30 of 32 parties are favoring the new vital economic regime. Therefore, government is more confident about the passing of the Bill in this session of Parliament.

The Indian Finance Minister, Arun Jaitley held a meeting on Tuesday to make changes with the opposition party Congress. He believes that these demands can “damage” the new system compared to its benefits.

The Indian Government is willing to talk with the main opposition party-Congress for backing the Goods and Services Tax (GST). The Janta Dal (United) and Biju Janta Dal pushed the government to opt for a give-and-take conversion with the opposition on the GST Panel and finishing one per cent inter-state tax (CST).

At the India-Singapore Economic conference held in Singapore, Indian Prime Minister Narendra Modi told investors that the GST Bill will be rolled-out in next year as our government is expecting. The economic reform has already been proposed in the Parliament.

At the moment, there are many rumors regarding India’s biggest reform, GST Bill. As per the sources, the Goods and Services Tax (GST) rate may be reduced from 18 percent. If the GST rate is less than 18 percent then there is a good chance that it will be emerged to roll-out the GST Bill in the Winter Session of Parliament and the opposition parties also want to reduce the GST rate. Therefore, they won’t have any reason to delay it further more.