Business Other News 07 Apr 2017 Rajya Sabha passes G ...

Rajya Sabha passes GST, set to rollout from July 1

DECCAN CHRONICLE.
Published Apr 7, 2017, 1:03 am IST
Updated Apr 7, 2017, 1:41 am IST
The ruling BJP got help from the Congress as the Opposition did not press for amendments.
Finance minister Arun Jaitley said, “In May, we will give the final approval to rules and rates, and it looks like the law can be implemented from July 1.”
 Finance minister Arun Jaitley said, “In May, we will give the final approval to rules and rates, and it looks like the law can be implemented from July 1.”

New Delhi: The Goods and Services Tax (GST) is set for a rollout from its target date of July 1 as the Rajya Sabha passed on Thursday all four enabling legislations to pave the way for India’s biggest indirect tax reform. The Lok Sabha has already passed the four bills.

Finance minister Arun Jaitley said, “In May, we will give the final approval to rules and rates, and it looks like the law can be implemented from July 1.”

 

The ruling BJP got help from the Congress as the Opposition did not press for amendments. Former PM Manmohan Singh is understood to have urged the Congress not to press for amendments to the bills to “maintain consensus and federal agreement”.

“Happy that when it comes to enforcing GST all political parties came out in one voice,” Mr Jaitley said. The Congress stand ensured that amendments moved by other Opposition parties such as the TMC and the Left were voted down, and the bills sailed through without any changes.

 

Mr Jaitley said the successive governments have contributed towards the GST, and no one person can take credit for it.

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Location: India, Delhi, New Delhi




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