GST 2016

GST bill is passed

When the Bill is passed today, we will prepare for the next stage of the debate, which is the Central GST Bill. I want an assurance that when that bill is brought, that will be brought as a Financial Bill and not as a Money Bill: Chidambaram

Please now, on basis of your own report –‘Cap the tax rate’. We mean it cannot be changed with whim of executive. Tax rate of this importance must only be changed with the approval of Parliament: Chidambaram

Firstly, there are still pieces of clumsy drafting in the Bill. In the present list of amendments, you have made some provisions of what will go into the consolidated fund of India. Second issue is multiplicity of taxes. If you give some states power to impose additional 1% tax, it would have led to multiplicity of tax rates. Third major issue is of dispute resolution. Dispute resolution between states and Centre is not a matter on which Constitution is silent. Article 131 speaks loud and clear.Chidambaram  02:40 PM (IST), Aug 03

GST will give a boost to the economy which is now at a critical stage: Arun Jaitley

GST bill will empower the states, will increase revenue of states as well as Centre. It’ll ensure that there is “no tax on tax”: Arun Jaitley

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