If the GST Bill is introduced as a Money Bill, it will allow the BJP to comfortably manoeuvre its way through the Lok Sabha, where they have a majority.
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The much acclaimed tax reform of Modi government – the so-called GST bill, will be taken up by the Lower House of Parliament (Lok Sabha) on 8th August, 2016.
In the meantime, the Congress has also issued a similar whip.
“We welcome the passage of the landmark Goods and Services Tax (GST) Bill”, State Department spokesperson Elizabeth Trudeau told PTI.
On the question whether the amended bill will be a money bill or a financial bill, Jaitley said the GST Council will make draft laws on CGST/IGST, and only then it could be determined if the bill would be financial bill or money bill.
Thanking all political parties and the state governments for their support to the bill, he said, the passage of the bill can not be seen as a victory of a party or government.
Terming the passage of the GST Bill the will of the people, Finance Minister Arun Jaitley on Sunday said that the people’s pressure was what spurred the politicians to pass the Bill in Parliament. The bill was approved by the Rajya Sabha last week.
“We are for GST”, he said, adding that it should have become a reality a long ago. “Otherwise, this imbalanced development will stop country from scaling new heights”, he added hinting at states like Bihar, West Bengal and Orissa.
It is also expected to result in greater tax compliance, boosting government revenues.
“The enactment of the GST in India heralds one of the most significant post-Independence reforms making doing business in India easier and facilitating the easier flow of goods and services across states”, said Vikramaditya Khanna, professor at University of Michigan Law School.
The opposition party said the treasury benches focused only on Rajya Sabha members during consultations for a consensus on the Goods and Services Tax (GST) Bill.
He recalled that it was on this date, in 1942, that Mahatma Gandhi had given the call for the Quit India Movement, and said the country had today begun its march towards freedom from “tax terrorism”. The government had moved six official amendments, including scrapping of one per cent additional tax, to the Bill cleared by the Upper House.
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“In the entire discussion on the GST, none of us used it as a platform for politics”. The Enemy Property (Amendment and Validation) Bill, as passed by Lok Sabha and as reported by Select Committee will be taken up by the Rajya Sabha. “Question of treating Lok Sabha as a junior house does not arise”, the Prime Minister said.
