All eyes on GST Bill as monsoon session of parliament begins

The government would make all efforts to pass the much touted GST Bill, apart from others

GN Bureau | July 18, 2016


#GST bill   #Monsoon session   #taxes  

 The monsoon session of the parliament, which commenced Monday, would witness discussions on a host of bills. The most prominent and talked about is the Goods and Services Tax (GST) Bill which aims to make laws for levying goods and services tax on every transaction of supply of goods or services or both. If passed, the goods and services tax would replace a number of indirect taxes presently being levied by the central as well as the state governments, with an intention to remove cascading of taxes and provide a common national market for goods and services. 

READ: BJP to feel the heat on NSG and Kashmir from Congress

PRS Legislative Research has consolidated the list of bills (and their key objectives) to be introduced in the parliament. 
Here’s a look at those listed for consideration and passing:
 
GST Bill, 2014: Introduces the Goods and Services Tax to give concurrent taxation powers to both the centre and states, and creates a Goods and Services Tax Council.
 
The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016: Amends four laws to address issues related to debt recovery, including expeditious adjudication of cases.
 
The Indian Trusts (Amendment) Bill, 2015: Amends Indian Trusts Act, 1882 to permit trustees to invest trust money in securities authorised by the trust deed or central government. 
 
The Homoeopathy Central Council (Amendment) Bill, 2015: Makes it mandatory for all homoeopathy medical colleges to obtain prior permission from the central government for admission of new batches of students.
 
The Child Labour (Prohibition and Regulation) Amendment Bill, 2012: Prohibits the employment of children below 14 years in any occupations and of adolescents between 14-18 years in certain hazardous occupations.
 
The Enemy Property (Amendment and Validation) Bill, 2016: Vests all rights, titles and interests over enemy property in an office of the central government. 
 
The Whistle Blowers Protection (Amendment) Bill, 2015: Specifies grounds under which public interest disclosures related to corruption may not be made.
 
The Compensatory Afforestation Fund Bill, 2015: Seeks to establish funds at the national and state levels to receive money collected as compensation for diverted forest land. 
 
The Regional Centre for Biotechnology Bill, 2016: Provides legislative backing to the Regional Centre in Faridabad, Haryana and give it the status of an institute of national importance.
 
Apart from these, there are six other bills listed for introduction, consideration and passing: 
 
The Indian Medical Council (Amendment) Bill, 2016: Introduces a uniform entrance examination for all medical educational institutions.
The Dentists (Amendment) Bill, 2016: Introduces a uniform entrance examination for all dental colleges.
 
The High Courts (Alteration of Names) Bill, 2016: Changes the names of Bombay and Madras High Courts to Mumbai and Chennai High Courts, respectively.
 
The Institutes of Technology (Amendment) Bill, 2016: Incorporates six new IITs at Tirupati (Andhra Pradesh), Palakkad (Kerala), Dharwar (Karnataka), Bhilai (Chhattisgarh), Goa and Jammu (J&K) and converts Indian School of Mines, Dhanbad to an IIT, under the IIT Act, 1961.
The National Institutes of Technology, Science Education and Research (NITSER) (Amendment) Bill, 2016: Incorporates National Institute of Technology, Andhra Pradesh in First Schedule of NITSER Act, 2007.
 
The Use and Regulation of DNA based technology in Civil and Criminal Proceedings, Identification of Missing Persons and Human Remains Bill, 2016: Regulates the use of DNA analysis of human body substances profiles, and establishes the DNA Profiling Board and a National DNA Data Bank.
 

 

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