August 7, 2016 8:29 PM

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GST Bill to be taken up by Lok Sabha tomorrow

The Good and Services Tax Bill will be taken up by Lok Sabha tomorrow. Rajya Sabha passed the bill on Wednesday with amendments which need to be again approved by the Lok Sabha.<br/><br/>BJP has already issued a whip to all its Lok Sabha MPs asking them to be present in the house. <br/><br/>Congress has also issued a similar whip. Talking to a news agency Congress leader Jyotraditya Scindia said his party will support the GST bill with the amendments which the ruling party has assured.<br/><br/>After its passage in the Lok Sabha, it will go to state assemblies for ratification. The Bill needs ratification by half of the assemblies to become a law.<br/><br/>After the amendments are carried out, Parliament will pass GST and Integrated GST Bills and the assemblies will pass state GST Bill for the roll out of the tax reform in the country. <br/><br/>The chief ministers have assured that, if required, they will call a special session for the passage of the Bill in their state assemblies.<br/><br/>The GST is aimed at bringing uniform tax regime in the country by subsuming state levies. Under it, a single rate of GST will replace various taxes to ensure seamless transfer of goods and services.

August 7, 2016 4:39 PM

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GST Bill to be taken up by Lok Sabha tomorrow

The Good and Services Tax Bill will be taken up by Lok Sabha tomorrow. Rajya Sabha passed the bill on Wednesday with amendments which need to be again approved by the Lok Sabha.<br/><br/>BJP has already issued a whip to all its Lok Sabha MPs asking them to be present in the house. <br/><br/>Congress has also issued a similar whip. Talking to a news agency Congress leader Jyotraditya Scindia said his party will support the GST bill with the amendments which the ruling party has assured.<br/><br/>After its passage in the Lok Sabha, it will go to state assemblies for ratification. The Bill needs ratification by half of the assemblies to become a law.<br/><br/>After the amendments are carried out, Parliament will pass GST and Integrated GST Bills and the assemblies will pass state GST Bill for the roll out of the tax reform in the country. <br/><br/>The chief ministers have assured that, if required, they will call a special session for the passage of the Bill in their state assemblies.<br/><br/>The GST is aimed at bringing uniform tax regime in the country by subsuming state levies. Under it, a single rate of GST will replace various taxes to ensure seamless transfer of goods and services.

August 7, 2016 2:16 PM

printer

GST bill to be taken up by Lok Sabha tomorrow

The Good and Services Tax Bill will be taken up by Loksabha tomorrow. The Bill was passed by Rajya Sabha on Wednesday with amendments which need to be again approved by the Lok Sabha.<br/><br/>It is expected that Prime Minister Narendra Modi may intervene in the debate over the 122nd Constitution Amendment Bill.<br/> <br/>BJP has alreday issued a whip to all its Lok Sabha MPs asking them to be present in the house. Congress has also issued a similar whip. Talking to a news agency Congress leader Jyotraditya Scindia said his party will support the GST bill with the amendments which the ruling party has assured.<br/><br/>After its passage in the Lok Sabha, it will go to state assemblies for ratification. The Bill needs ratification by half of the assemblies to become a law. <br/><br/>After the amendments are carried out, Parliament will pass GST and Integrated GST Bills and the assemblies will pass state GST Bill for the roll out of the tax reform in the country. <br/><br/>The chief ministers have assured that, if required, they will call a special session for the passage of the Bill in their state assemblies. The GST Bill has to be ratified by at least 16 states in 30 days after it is passed by Parliament.<br/><br/>The GST is aimed at bringing uniform tax regime in the country by subsuming state levies. Under it, a single rate of GST will replace various taxes to ensure seamless transfer of goods and services.

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