#NewDelhi : Union Finance minister Arun Jaitley has held multiple meetings with top opposition leaders over the GST Bill, It’s official. The government has listed the crucial Goods and Services Tax or GST bill in next week’s agenda for the Rajya Sabha or Upper House of Parliament.
A date has not been announced for a five-hour debate on the GST bill, but sources said it was likely to be presented and discussed in the house next Tuesday, August 2. 2016,
After the government cleared substantial changes to the proposal this week to win support from the Congress and other parties, Finance Minister Arun Jaitley has held multiple meetings with top opposition leaders.
“Some progress has been made….there can be an outcome” said sources close to Congress vice-president Rahul Gandhi after the government’s outreach. The Congress, the largest party in the Rajya Sabha, has so far blocked the GST reform.
The cabinet has cancelled a 1% inter-state tax, vetoed by the Congress, which had been sanctioned for states that manufacture foods to offset losses from GST, which will earn governments revenue from consumption.
In exchange for the cancelled tax, the centre will compensate manufacturing states like Tamil Nadu which will lose revenue, for the next five years. The GST is a single national tax that replaces an intricate mesh of tariffs. According to media reports,
After the government cleared substantial changes to the proposal this week to win support from the Congress and other parties, Finance Minister Arun Jaitley has held multiple meetings with top opposition leaders.
“Some progress has been made….there can be an outcome” said sources close to Congress vice-president Rahul Gandhi after the government’s outreach. The Congress, the largest party in the Rajya Sabha, has so far blocked the GST reform.
The cabinet has cancelled a 1% inter-state tax, vetoed by the Congress, which had been sanctioned for states that manufacture foods to offset losses from GST, which will earn governments revenue from consumption.
In exchange for the cancelled tax, the centre will compensate manufacturing states like Tamil Nadu which will lose revenue, for the next five years. The GST is a single national tax that replaces an intricate mesh of tariffs. According to media reports,
Bureau Report
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