The Centre is aiming at April 1, 2017 to implement GST.
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Pointing out that the bill also needs support from state legislative assemblies before GST is rolled out, he said “this system of one country with one tax will improve transparency in the economic activities”.
“GST is an important milestone in the reforms of indirect taxes in India and Government of Odisha is in favour of GST”.
However, the Minister made it clear that the State was not opposing the GST and welcomed the passing of GST by Rajya Sabha.
After deletion of the 1% additional tax on all inter-state supply of goods that was proposed in the original GST Bill passed by the Lower House, the Upper House approved the GST Bill unanimously.
On the Prime Minister’s instruction, senior BJP leaders contacted 11 chief ministers by Friday evening and suggested that the Assemblies that are now in session can approve the 122nd constitutional amendment Bill immediately.
“The PM has asked senior colleagues to reach out to Opposition-ruled states with request to pass the bill at the earliest”, a Union minister said.
The Constitution (122nd Amendment) Bill, 2014 on GST has already been passed by the Lok Sabha. The Goods and Services tax (GST) will bring about the biggest tax reform since Independence as it will help minimizing fiscal barriers between states.
Prime Minister Narendra Modi has thanked the leaders and members of all political parties for the passage of the Goods and Services Tax Bill in the Rajya Sabha yesterday.
Modi is expected to intervene during the debate on the bill in Lok Sabha. He is said to have given a time frame for its approval by required number of state assemblies by September this year.
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Under it, a single rate of GST will replace Central Excise, State VAT, entertainment, entry and luxury taxes to ensure seamless transfer of goods and services.
