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.
PM Narendra Modi said that after two days the winter session will start and in this time, our government will talk with the main opposition party-Congress to roll-out the Bill. On this behalf, we are trying hard to pass it.
Read Also: Will the GST be Delayed? FM Jaitley Meets Rahul Gandhi
The government has fixed the last date to apply for the GST Bill on April 1, 2016 and if Constitutional Amendment Bill will be not passed due to any reason in the Parliament in the upcoming session then the reform will be missed-out to its dead line.
As per the sources, the Finance Ministry has begun the modification in the GST Bill from Monday evening as the Congress party has been seeking. According the sources, the GST rate may be reduced at 18 Percentage. The GST Bill has rolled out in the Lok Sabha, but it is stuck in the Rajya Sabha due to lack of majority of ruling NDA. The Congress has 67 members in the Upper House of Parliament (Rajya Sabha), while the BJP has only 48 members. Therefore, the government requires the support of Congress to pass the Bill. The Constitutional Amendment Bill needs to be rolled out in both the houses by two-thirds majority.
