Usually, the winter session of the parliament takes off in the third or fourth week of November, but this time, it has been scheduled on November 16 and the major discussion to take place will be GST. As we all are aware of the fact that the Govt. is very keen towards implementing the new tax reform by the proposed deadline i.e. April 2017. The center doesn’t want any stone left in the successful rollout of the GST across the nation.
The NDA government has also directed the GST council to set the rates for GST before the Budget for the next financial year. As per the sources, the budget is usually presented by the last day of February every year but the government has also to clear the Integrated GST bills and the Central GST before April 1, 2017.
The centre will be able to levy the GST and the collection will be carried out through the inter-state trade and commerce. The council is expected to specify different GST rates and several other exemptions under the GST regime.
The govt. will also put forward its new labour reforms agenda in the winter session. The Labour Code on wages that are meant to provide minimum wages structure across all sectors will be kept on the priority. The code unites the four different laws related to wages. The labor ministry is also seeking the parliamentary approval against the code, making easier for firms to recruit more than 300 workers.
