The Congress is also demanding a ceiling of 18 per cent in the GST rate to avoid any burden on consumers, especially the poor.
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Besides Congress, sources said, left parties too are likely to file dissent note on the report. The previous version of the bill said the compensation would be paid for “up to five years”.
The 21-member Committee, headed by Bhupender Yadav (BJP) has adopted the report, which is likely to be submitted to the Rajya Sabha later in the week, sources said.
“The report was technically adopted today (Monday) but there is time until Tuesday afternoon to put in dissent notes”.
According to sources, the government will move an official amendment to the GST bill.
Senior ministers in the government are trying to convince All India Anna Dravida Munnetra Kazhagam leaders not to vote against the bill when it is taken up in Parliament.
The Congress also said the absence of a GST disputes settlement authority was a lacuna, sought that sources of revenue of the panchayats and municipalities be safeguarded and assured of their due revenue buoyancy expected to arise from GST, and suggested changes in the word “supply/ies”, which it calls a key term.
“The real question is if the Rajya Sabha will function or not”. The party wants the compensation to be deposited in a fund under the administrative control of the GST Council. It, however, did not get support from most of the other parties.
Being a constitution amendment bill, which was passed by the Lok Sabha, it needs to be passed by the Rajya Sabha with a two-thirds majority and then be ratified by at least 15 state legislatures before being sent to the President for his assent.
“The GST Council would be constituted after the enactment of the constitution amendment bill which is now with the Select Committee of the Rajya Sabha“, V.S.Krishnan, member, Central Board of Excise and Customs told mediapersons in an interaction at the Federation of Indian Chambers of Commerce and Industry (FICCI). “The next logical step would be to see through the passage of the bill in the monsoon session of the Parliament without any political disruptions”, he said.
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He added that the reports of various Committees/sub-committees on Place of supply rules, IGST Model and Business processes relating to Registration, Refunds, Returns & Payments were awaiting approval.
