The long-pending indirect tax reform Goods and Services Tax (GST) Constitutional Amendment Bill was passed by the Rajya Sabha yesterday.
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Government in today’s meeting has chose to organise Mysuru Dasara in both “traditional” and “attractive” way, a state government release said.
The Lower House had passed it in May previous year, but will have to approve the latest version of the Bill.
It would further increase after the implementation of the GST Bill, he said.
Leader of Opposition Narasingh Mishra said: “The GST bill was first introduced by the UPA government. The thought which was started during Vajpayee government regime has become reality”, Chief Minister Laxmikant Parsekar told the State Legislative Assembly while opposing the cut motion moved to the Demands for Grants for Commercial Tax Department.
Now the monsoon sessions of the State legislative assemblies are taking place and the government is confident that the GST Bill will go through by the end of it.
The Goods and Services Tax (GST), which will subsume over a dozen central and state levies including excise duty, service tax and VAT, is “perhaps the most important” tax reform, he said.
Though tax on goods would come down because of GST, it might increase on services and also food grains.
With the wide ranging reforms on going, GST approval adds to the government plans to enhance the ease of doing business, Rao said.
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Now, as the Centre has chose to implement GST from 2017-18, the state is demanding compensation till 2016-17 too, they said. “Together we will take India to new heights of progress”, he added. The GST Council will be recommending rates of tax, period of levy of additional tax, principles of supply, special provisions to certain states etc. Although the government wants to implement it in April 2017, analysts and economists have warned that it could be delayed.
