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The ruling BJP is gearing up to take a next step towards the GST bill. In upcoming week, the government may meeting with Congress once again to discuss on the Constitution Amendment bill to roll out the GST in the Rajya Sabha Parliament (the bill already passed in Lok Sabha).
Goods and Services Tax (GST), is known as the crucial tax reform in our nation since independence. A lot of speculation has been going on regarding the Indian GST Bill since the chief leader of ruling BJP and FM-Arun Jaitley had proposed the Bill last year in the Parliament. Now the NDA government is going to seriously talk on the GST bill in the Rajya Sabha in this week of winter session. But it is not possible to implement GST in the upper house of Parliament without the Congress’s support.
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.
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.
The grand alliance between Janata Dal (United) and RJD has made their presence in Bihar state by registering a massive victory. The party might create a buzz in the Parliament from the beginning of Winter Session, by indicating to support the opposition party on the GST Bill.
Finance Minister, Arun Jaitley says that the Prime Minister of India, Narendra Modi has majority votes to pass vital reform, Goods and Services Tax that was first proposed in 2006. Talking about the GST Bill, it is an indirect tax and one of the best and biggest economic reforms in India. The Bill could be applied from April 1, 2016 after it’s approval. The anti-persons of Narendra Modi have blocked the measure in the Rajya Sabha, Finance Minister told in an interview of Bloomberg TV India.
The salaried class has a lot of expectation from the first budget of finance minister Arun Jetly. The Indian Chartered Accountant of India (ICAI) has recommended that the tax should be tax free on the income up to 3 Lakhs.
