The constitution amendment bill fails to get consensus
GN Bureau | May 12, 2015
The GST Bill has been referred to Select Committee of Rajya Sabha. It will be headed by Bhupendra Yadav. The report of the committee will be placed before house on last day of first week of next session. This decision was taken on Tuesday as the government could not muster consensus on the issue.
The GST (goods and services tax) bill was approved by Lok Sabha on Wednesday after a walkout by Congress, whose floor managers in the Rajya Sabha have made it clear to the government that it will not be possible for them to back the bill without referring it to a select committee.
The Congress, which treats the original GST bill as its "own baby", is learnt to have assured government that it will support the bill for passage in the next session and it could then be brought even as early as on the last day of the first week of the monsoon session.
Being a Constitutional amendment bill, it is required to be passed by both Houses of Parliament by a two-third majority. The Bill will then need ratification of more than half of 29 states before scheduled roll out in April next year. GST was first mooted 12 years ago but couldn't be approved as states feared curbs on their fiscal powers.
The GST shall be implemented from April 1, 2016. It seeks to create a new indirect tax regime which will comprise various central and state levies. They include sales tax, excise and services tax except taxes on the supply of alcohol for human consumption and petroleum products. The whole process of indirect taxation in the country will change once the GST is implemented.
Last week, finance minister Arun Jaitley had said that the GST will herald an economic integration of India. Jaitley had also slammed opposition Congress for stalling the progress of the country by preventing passage of the Constitution Amendment Bill.
"The entire country will become one market and it will be an economic integration of India," Jaitley had said in Mumbai.
"India becomes one uniform market where there is a seamless transfer of goods and services," he said, adding states' share of revenue will go up and economic activity and growth will also improve.
Jaitley said India has capacity to grow in double digit and not just 7-8 per cent.
The Narendra Modi government has set aside Rs 52,393 crore in 2017-18 for the welfare of the dalits. On the face of it, the amount is substantial. However, an analysis of the past actual allocation shows that there has in fact been a dip in spending on schemes that are specifically meant only for dalits.
“I will always try and it is also my belief that the president’s post should be above politics,” said NDA’s presidential candidate Ram Nath Kovind who filed the nomination papers on Friday. “Since the time I became governor, I am no longe
A lot of debate that we witness in the media on the cattle question these days suffer from the disease of speculative utopian imagination of a ‘cow-nation’ and relentless abuses for those beef-eating ‘others’. Political debates over the question of o
Ramin Jahanbegloo is a renowned philosopher who is now associated with the Jindal Global University. His latest work, The Decline of Civilization, calls for countering the ‘decivilising’ tendencies of our times by returning to Gandhi and Tagore. Jahanbegloo answered s
Should CBSE prepone the board exams?
In this nationalistic age, sports seem to play an important role, and in India, this can be seen during cricket matches. For most, a victory symbolises prestige and supremacy. On Sunday, India lost to Pakistan in the final match of the ICC Champions Trophy. The defea