July 30, 2016 2:22 PM

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PM Modi holds meeting with top ministers to discuss GST

Prime Minister Narendra Modi held a meeting with his top Cabinet colleagues last evening to firm up the strategy for the passage of Goods and Services Tax (GST) bill in the Rajya Sabha.<br/>The bill has been listed for consideration and passage in the Upper House next week.<br/><br/>The Business Advisory Committee of the Rajya Sabha has earmarked five hours discussion for the bill which seeks to introduce a system for uniform taxation across the country.<br/>Government needs the support of two-third members of the Upper House to amend the constitution to turn GST into law.<br/><br/>The Union Cabinet had cleared changes in the Bill on Wednesday dropping the 1 per cent additional tax on inter-state sales and providing guarantee to compensate states for any revenue loss in the first five years of rollout.<br/>GST Bill was passed by the Lok Sabha in May last year but is stuck in the Rajya Sabha due to Opposition resistance.

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