Maharashtra Legislature ratifies GST Bill
PTI The Maharashtra Legislature today unanimously ratified the Goods and Services Tax Constitutional Amendment Bill, joining a clutch of states which have already approved the legislation that will pave the way for roll-out of a single and unified tax system in the country. Both Houses of the legislature met for a special one-day session to approve the Constitution (122nd Amendment) (Goods and Services Tax) Bill, passed by Parliament earlier this month, during which Opposition and treasury benches traded charges. Maharashtra, an economic powerhouse, became the 10th state to ratify the crucial legislation, billed as the biggest tax reform since Independence. Before unanimous ratification, during a discussion Congress and NCP-led opposition targeted Prime Minister Narendra Modi for his resistance to the same Bill in ...
Reasonably confident of GST Bill passage in monsoon session:FM
PTI Jaitley said he has spoken to the chief ministers of all states, including those ruled by the UPA and the Congress, and they are a "strong supporter" of the idea. The Congress is opposing the bill in the current form, demanding that a cap on GST rate be included in the Constitution Amendment Bill. The other two changes sought are removal of one per cent additional tax on inter-state transfer of goods and a Supreme Court judge-headed dispute resolution panel. Jaitley said except for the additional inter-state tax, the GST Bill is verbatim of what the UPA had earlier proposed. He expressed his willingness to consider the additional 1 per cent inter-state tax. "... The rest of the GST Bill was verbatim the same ...
FM hopeful of GST Bill in ensuing Budget session
Addressing the officer trainees of the Indian Revenue Service, Arun Jaitleysaid there is virtually a consensus for GST among political parties and everybody supports it. Source: PTI Parliament's Budget session will start in last week of February. Intro: Congress stalled the passage of the Constitution Amendment Bill in last two sessions, derailing government's plan to roll out GST from April 1, 2016 After hitting the Congress wall in two successive Parliament sessions, Finance Minister Arun Jaitley on Saturday exuded confidence that landmark GST Bill will be passed in the next session as numbers in the Rajya Sabha will tilt in favour of the new indirect tax regime. The next session is going to be extremely important. And half way through the next session, ...
Report on uniform GST rate by month end
Source: PTI The government panel set up to suggest a uniform rate of indirect tax under the GST regime will submit its report by this month-end and the roll out of the reform measure is possible any time next fiscal, a senior CBEC official said on Wednesday. CBEC has also suggested to Finance Minister Arun Jaitley to set up consultative bodies in each state in the form of GST Secretariat for better coordination between the Centre and states for the roll out. On the uniform tax rate, CBEC member GST V S Krishnan said: “A very high rate could dilute the advantages of GST. There is a committee which has been set up under the Chief Economic Advisor, which is likely ...
