Minister of State for Finance Arjun Ram Meghwal today said that government is working to build a consensus on Goods and Services Tax (GST) bill with the hope of getting it passed during the ongoing Parliament session. <br/><br/>He said in New Delhi that a consensus is likely to be reached on at least two of the three demands put forth by the main opposition Congress party. Mr Meghwal said, many states, including Bihar, West Bengal, Uttar Pradesh and Odisha feel that once GST is passed, it would be good for the country.<br/><br/>The Congress has been demanding that the overall rate be capped at 18 per cent and scrapping of an additional 1 per cent tax designed to compensate manufacturing states that fear losing out on revenue. It also wants an independent mechanism to resolve disputes between states over revenue sharing. <br/><br/>Finance Minister Arun Jaitley will meet the state finance ministers tomorrow and pursuant to that the Constitutional Amendment Bill on GST will come up for a discussion in the Rajya Sabha. The GST would subsume all indirect taxes like excise, sales and service levies. The bill has already been passed in the Lok Sabha.
News On AIR | July 25, 2016 9:21 PM
Govt trying to pass GST bill this session: Arjun Ram Meghwal