FM Jaitley tables GST Bill in Rajya Sabha; says it is a landmark tax reform

Mangalore Today News Network

New Delhi, Aug 03, 2016: Finance Minister Arun Jaitley on Wednesday tabled the long-pending Goods and Services Tax (GST) Bill in the Rajya Sabha.

The Constitution (122nd Amendment) Bill, 2014, which lays the ground for roll-out of Goods and Services Tax regime will subsume all indirect taxes, including central excise duty and state VAT/sales tax.

The bill that is expected to clear the upper house today simply amends the constitution to grant the government new taxation powers. A constitution amendment requires support of two-third members present and voting. The amendment will then have to be approved by 50 percent of all the state assemblies.

Several ammendments have been made so far after the debate on contentious issues, says the FM

Manufacturing states had many concerns over GST, Jaitley says while making opening comments

GST is the most significant tax reform in recent years, says Jaitley

Congress was always with the idea of GST: FM Jaitley says

FM Arun Jaitley moves the GST bill ammendments in Rajya Sabha

Debate over GST begins in Rajya Sabha

Sure, GSt will be passed, Centre has assured that it will help states for first 3 years in case of loss, says Chhattisgarh Chief Minister Raman Singh

We are the original authors, if the nation gets GST, Congress would have made a notable contribution: Anand Sharma, Congress says

Party’s stand is clear, how will you compensate loss that will be caused to BMC through GST? Sanjay Raut, Shiv Sena says