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GST Bill gets nod in Rajya Sabha

It will now go again to the Lok Sabha for its clearance

Policy Pulse
Publish Date: Aug 3 2016 10:05PM | Updated Date: Aug 3 2016 10:20PM

GST Bill gets nod in Rajya Sabha
The Rajya Sabha on Wednesday passed Constitution amendment bill to pave the way for the introduction of a pan-India Goods and Services Tax regime.
It passed the Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, with all the 197 members present voting in its favour.
While AIADMK had walked out earlier, 203 members present voted in favour of the main bill. 
GST bill will now go again to the Lok Sabha for its nod since Centre had moved some amendments to get political parties, particularly the Congress, on board.
The day saw some heated debate, with the Opposition demanding that subsequent bills on the subject be brought as financial bills, as against money bills, so that the Upper House gets a chance to debate and vote on them.
NDA Government assured that it will follow the spirit of the Constitution in this regard.
It seeks to subsume all central indirect taxes like countervailing duty, excise duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, to create a single, pan-India market.
Some items like potable alcohol and petroleum products, will be outside its purview for now.
Earlier in the day, while introducing the bill Finance Minister Arun Jaitley said that the bill is the most reformative tax reform.
The bill will  increase revenue of states as well as Centre, he said.