GST Bill may come up in winter session of Parliament

GST Bill may come up in winter session of Parliament

 

The Bill will be taken up in the winter session of Parliament, says Union minister of state for finance J.D. Seelam

 

The goods and services tax (GST) Bill will be taken up in the winter session of Parliament, Union minister of state for finance J.D. Seelam said on Wednesday.

 

“There is near-consensus between the finance minister and the chairman of the empowered committee of states’ finance ministers. We can table it (the Bill) during the winter session,” Seelam told reporters on the sidelines of a Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) event in Hyderabad.

 

India is trying to bring in legislation for a unified market by implementing a simple goods and services tax (GST).

The parliamentary standing committee on finance submitted its report on 7 August on the constitution amendment Bill, suggesting changes largely in line with the consensus reached between the central and state governments on the design of the tax.

 

“We are processing the recommendations forwarded by the standing committee,” Seelam said.

 

The original deadline for the implementation of the new tax regime was April 2010, but it missed several deadlines because of differences between the Centre and states over issues such as central sales tax compensation and the structure of the GST.

 

In July, the empowered committee elected Jammu and Kashmir finance minister Abdul Rahim Rather as its new chairman.

 

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