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GST will end tax terror: PM
The Lok Sabha on Monday unanimously passed a Constitution Amendment Bill that enables mega reform Goods and Services Tax (GST) regime. The Bill adopted by the Rajya Sabha last week would now be sent to the state Assemblies for approval after the President okays it.
New Delhi: The Lok Sabha on Monday unanimously passed a Constitution Amendment Bill that enables mega reform Goods and Services Tax (GST) regime. The Bill adopted by the Rajya Sabha last week would now be sent to the state Assemblies for approval after the President okays it.
Speaking during a debate on the Bill, Prime Minister Narendra Modi described the tax reform will go a long way in helping states, support small entrepreneurs and also curb the menace of corruption.
In our country there is a trend of kaccha bill-pucca bill (fake bills and original bills). The proposed uniform tax law will be technology based. Henceforth business houses and entrepreneurs will be forced to insist only on pucca (original) bill which will end corruption in the long run
He asserted that the new tax law will be an important step towards getting the country rid of "tax terrorism" and also make "consumers the king". of kaccha bill-pucca bill (fake bills and original bills)," the Prime Minister said and asserted that the proposed uniform tax law will be technology based. Henceforth business houses and entrepreneurs "will be forced" to insist only on pucca (original) bill which will "end corruption in the long run".
He described GST as a "Great Step by Team India, Great Step towards Transformation and Great Step towards Transparency." Trying to answer various issues raised by members, including M Veerappa Moily and Mallikarjun Kharge (both Congress), the Prime Minister said the new law will benefit states, especially those which are considered backward.
"It will address the problem of imbalanced development," he maintained. The Rajya Sabha had on August 3 unanimously passed the Constitution Amendment Bill to pave the way for introduction of a pan-India Goods and Services Tax (GST) regime.
Saying that he had held extensive consultations with Congress leaders Sonia Gandhi and Manmohan Singh, the Prime Minister told the House that “Lok Tantra” is not just a game of mandate, it is also a journey of forming consensus. “I held consultations with Soniaji and Manmohan Singhji. We made efforts to take into consideration everyone’s suggestions,” Modi said.
Modi also acknowledged that the passage of the GST Bill cannot be solely seen as a victory for the BJP. “It’s true that someone gives ‘birth’ while someone else ‘nurtures it’. It is not a victory of a particular political party,” Modi said in the Lok Sabha. Modi also said that GST would help achieve the government’s aim of empowering the poor. “Our aim is Economical and educational empowerment of the poor. GST can help us achieve this aim,” he said.
LATEST DEVELOPMENTS
- Prime Minister Narendra Modi described the national sales tax as a major step "that will deliver us from tax terrorism."
- "GST means a Great Step Taken by India, a Great Step of Transformation, Great Step towards Transparency," said the PM.
- Finance Minister Arun Jaitley made a strong pitch for "one nation one tax," stating that India's biggest tax reform will see the centre and states "pooling their sovereignty to reap the many benefits that will ultimately lead to India's progress".
- "Tax evasion will lessen, there will be no tax on tax or a cascade of taxes and ease of doing business will improve," said Jaitley.
- The Congress, which stalled GST for months before agreeing to support it, reminded the government on Monday that it had pushed through the Bill in the Lok Sabha last year by the sheer dint of its numerical strength and not consensus.
- At least 15 or half of India's 29 states must ratify the Bill and the government targets getting that approval within 30 days as it chases an April 1, 2017 deadline for implementation of GST. Several states will have to call for special sessions to clear GST in the next 30 days.
- A GST council will be formed after that with states and the Centre as members. This council will recommend rates and other modalities for GST.
- Parliament will need to clear two more GST-related Bills and each state will have to pass its own law. To meet its deadline the government will push to get this done in the winter session of Parliament.
