The India’s biggest reform agenda, GST Bill is facing a lot of political challenges. Nowadays, a very much updates and news on GST are being seen in headlines of the newspaper. Today Minister of State for Finance, Mr Jayant Sinha told in the meeting that it seems to be challenging to implement the Goods and Services Tax on its deadline – April 1, 2016.
Mr. Jayant Sinha today Said, “Legislative side is complicated because you need two-third majority in the Rajya Sabha, you need 50 per cent of states to pass it and then we have to get GST Bill to be passed…so there is lot of heavy lifting to done on legislative side which makes this challenging in terms of April 1, 2016.”
The Goods and Services Tax is not being passed in the Parliament as the Constitutional Amendment Bill is stuck in the Upper House due to some issues of opposition party, Congress. Therefore, the Bill might be delayed further as the Congress is worried over the National Herald case matter.
Also Read: GST Overview: Economical Effects on Govt, Companies and Individuals
“We could implement GST from April 1, 2016 from administrative point of view. If indeed the legislation gets passed across the Centre and states then there is no reason why we cannot implement in the year at any point, this is after all a transaction tax and then when it kicks in, it will kick in on all of those transactions.” Mr. Sinha said.
He further said, “We will keep pushing as far as GST is concerned. It will happen sooner rather than later.”
