To take your ideas to Policymakers, Join the Campaign of #PolicyPulse Write to feedback@policypulse.com

Centre confident of GST passage in first week of August

Congress has said it is in favour of including a cap of 18 percent on GST rate in the Constitution amendment bill

Policy Pulse
Publish Date: Jul 20 2016 5:41PM | Updated Date: Jul 20 2016 5:41PM

Centre confident of GST passage in first week of August

Demo photo

 

The Centre has said that it is hopeful of the passage of the Goods and Services Tax (GST) Bill in Parliament in the first week of August.

 
"We are hopeful of passing the GST Bill in the third week of monsoon session. We are trying to win support from all the parties," Minister of State for Finance Arjun Ram Meghwal said in an  Ascham even in national capital on Wednesday.
 
Meghwal added that the governments of Uttar Pradesh, Odisha, Bengal, Bihar and other states were in favour of the GST.
 
It is the Congress which now remains in opposition to the bill. 
 
Congress has said it is still in favour of including a cap of 18 percent on GST rate in the Constitution amendment bill. 
 
The government, however, is ready to consider putting a cap in the main bill and not in the Constitution amendment bill.
 
There have also been efforts to resolve the matter with the Congress on its demands for removing the 1 percent additional tax designed to satisfy manufacturing states, who fear losing out on the revenue, and creating a dispute redressal mechanism other than the proposed GST Council.
 
Union Minister Venkaiah Naidu, who was also present at the event, said that the Centre is engaging itself with different parties, not only with Congress party but possibly each and every party. 
 
Biggest beneficiaries of the GST will be states.