Target for GST rollout is April 1, 2017: Revenue Secretary

Our Reporter adds: Chief Minister Mukul Sangma has hailed the passing of the GST Bill in Rajya Sabha on Wednesday.

“We suspect that the government could bring both the bills as money bills so that there is no debate in Rajya Sabha” where it does not have a majority, he said.

“The party whip has been issued for our MPs to be present in the house on Monday, August 8. GST is one of the critical tax reforms which has potential to create one single market in India for goods & services and will boost country’s economy significantly”. The Enemy Property (Amendment and Validation) Bill, as passed by Lok Sabha and as reported by Select Committee will be taken up by the Rajya Sabha.

Odisha Finance Minister said, “It is a great pleasure that the Constitution Amendment Bill for GST has been passed in the Rajya Sabha yesterday”.

Finance Minister Arun Jaitley today said that doing business would become easier once Goods and Services Tax GST is rolled out and it would help a large body of traders and citizens.

The Bill, which has previously been passed by the Lok Sabha, was passed in the upper house after the government proposed amendments to the Bill.

The Congress leader said that government wanted pro-industry and pro-states GST regime but the Congress wanted it to be for the common people. The Bill will now go to Lok Sabha next week.

As regards the Congress demand of keeping the GST rate low at 18 per cent, Jaitley said states need revenue to carry on their own program, while the Centre would need funds to compensate the states.

Government in today’s meeting has made a decision to organise Mysuru Dasara in both “traditional” and “attractive” way, a state government release said. “We being tourism state will benefit due to this regime”, he said, adding that a special session of the Assembly would be called to pass the bill, as 50 percent of the State needs to pass it to make it legislation.

An op-ed piece in Global Times said China was willing to work with India to make GST Bill a “reality”.

GST is aimed at dismantling inter-state barriers to trade in goods and services by subsuming a slew of around 17 indirect taxes that include excise duty, service tax, VAT, CST, luxury tax, entertainment tax, entry tax and octroi.