Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
When, the Finance Minister has made an announcement regarding to remove the controversial EPF tax proposal, then the Congress and BJP quarrelled on Tuesday to take credit for the roll-back of the proposal tax EPF. Rahul Gandhi claimed that it happened due to his pressure on the government. In return, attacking on the Rahul, the parliamentary affairs minister Mr. Venkaiah Naidu said that he was interrupting the Parliament by blocking vital legislations.
MUMBAI: According to one of the largest foreign institutional investors Morgan Stanley, there is a belief that BJP can pass the GST Bill by this July as it has got an ample number of Member of Parliament (MP) to pass the bill.
Biggest indirect tax regime of india, the Goods and Services Tax (GST) is on its way to be adapted worldwide. After its inception, the present tax structure (Sales and Service Tax) will be replaced by the same. The need for GST in India is not only necessary to get rid from the troublesome current scheme of indirect taxes, but principally for reducing a huge number of exemptions, multiple rates and upgrading the tax compliances. Here we are going to put focus on some of the fundamental differences between the two and why the former is very prominent to be introduced soon.
The GST empowered committee of state finance ministers has selected a name, Dr. Amit Mitra as a new chairman of the committee. He is a West Bengal Finance Minister also. Moreover, the post of chairman was empty since November, 2015 as the Kerala Finance Minister KM Mani had left the post in November due to corruption charges.
The Indian Prime Minister, Narendra Modi took a move to the Opposition on Feb 16, 2016 regarding the passage the GST Bill in the upper house of Parliament. In the meeting, the PM expressed his words in the presence of floor leaders of all major parties in the both houses of of Parliament. He said that the ruling BJP was ready to discuss in the Parliament “each and every issue”, which the Opposition wanted. But on the condition that they do not disturb in the Parliament.
Introduced the Goods and Services Tax Bill in Dec 19, 2014, since, it is being rubbed between the politics’s quarreles. Now, the Road Transport Minister, Mr. Nitin Gadkari said that the main opposition party, Congress do not want to back the Constitution Amendment bill, they will be isolated. Our party is hopeful about the passage of the GST Bill.
The Goods and Services Tax bill is stuck amidst the ongoing war between the government and the Congress. In words of Congress Vice President Rahul Gandhi “The Congress party will support the GST bill openly in the Rajya Sabha if the Government agrees to its conditions.” As per Rahul Gandhi, it will take only 15 minutes for Congress to stand in full support along with the BJP who is a minority in Rajya Sabha.
The opposition party-Congress blamed the NDA government for making a “false smokescreen” on the taxation new regime. After the meeting of Venkaiah Naidu and Sonia Gandhi on Friday regarding the GST Bill, Congress said that the ruling BJP is not serious about the Constitution Bill,
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.
