Parliament clears decks for GST rollout from July 1

Once the new regime is implemented, harassment of businesses by different authorities will end and India will have one rate for one commodity throughout the country.

Created On: Apr 7, 2017 14:00 ISTModified On: Apr 7, 2017 13:56 IST

Parliament clears decks for GST rollout from July 1, Parliament passes GST Bills Rajya Sabha on 6 April 2017 passed all four supporting legislations of the Goods and Services Tax (GST) Bill 2017. The four bills were passed by the Rajya Sabha by a voice vote as all parties were on board. The four legislations are

i. The Central Goods and Services Tax Bill, 2017 (The CGST Bill)

ii. The Integrated Goods and Services Tax Bill, 2017 (The IGST Bill)

iii. The Union Territory Goods and Services Tax Bill, 2017 (The UTGST Bill)

iv. The Goods and Services Tax (Compensation to the States) Bill, 2017 (The Compensation Bill)

The passage in the upper house of the Parliament has cleared the decks for the rollout of the historic GST Bill from 1 July 2017 and usher the one-nation-one-tax regime.

With this passage in Rajya Sabha, the Bill will be sent to President Pranab Mukherjee for the final nod. The bills will become the law after the President gives his assent to them. The Bill was earlier passed by the Lok Sabha on 29 March 2017.

Now, the States can pass the State GST Bill in their assemblies.

After the passage of the bills in both houses of the Parliament, the Finance Minister Arun Jaitley said that bills related to GST were unanimously passed. It is a matter of happiness that all political parties extended their support in the passage of the bills.

Later talking to reporters outside Parliament, Finance Minister Arun Jaitley said, Parliament passed all the four bills related to GST unanimously. He said it is a matter of happiness that all political parties extended their support in the passage of the bills.

Jaitley also said that the successive governments have contributed towards the GST and no one person can take credit for it. In addition to this, he also informed that Jammu and Kashmir government has agreed to bring the legislation in its assembly to get its extension to that State.

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Replies on debate on the Bill before passage in the Rajya Sabha

• Earlier, replying to the debate on the GST, Jaitley assured the Rajya Sabha that agricultural produce will not be taxed under the new indirect tax regime.

• He said, all those items which are exempted as of now will continue to be so.

• The Finance Minister said, under the present system, there is a federal arrangement which no party can unilaterally alter.

• On GST network, Jaitley said the data is fully secured with an IT firewall.

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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