NLA Special Session ratifies GST Bill

Ignacio Smith
00:42, Aug 31, 2016
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.

Kolkata, The West Bengal government has, for the time being, shelved the plan to discuss the GST (Goods and Services Tax) Constitution Amendment Bill in the ongoing special assembly session that began on Friday, a ruling legislator said.

Sources say the final decision on the dates of the session will be taken by the cabinet committee on parliamentary affairs. It implies the session may get underway any time after Chhat Puja, which falls on November 6.

The government also has to pass the supporting legislations for the Central Goods and Services Tax (CGST) and Integrated Goods and Services Tax (IGST) legislations that will pave way for the GST, to be approved within November or latest by early December, government officials said.

Speaker ChotisuhSazo clarified that the Bill was to ratify amendment to the Constitution of India for taxation powers of the Centre and the States.


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State Finance Minister Etela Rajender had earlier said it was chose to pass the bill as Chief Minister K Chandrasekhar Rao has assured Prime Minister Narendra Modi, who recently addressed a public meeting at Gajwel, of the state's backing to GST Bill.

To this, the minister for Social Welfare, Kiyanilie Peseyie, said that the GST system would 'bring transparency and broadening of tax base, as taxation system will be online, and that revenue should go up due to check on tax evasion'. The Prime Minister wants the GST to kick in from April, 2017. The new regime will subsume excise, service tax and other local levies including VAT, octroi.

Besides, there is also concern about the multiple audits and investigations provided in the draft GST Bill spanning over a long period of 3 to 5 years whereas the entire GST process will be fully computerised and each transaction is required to be recorded in the monthly return. Once ratified by the requisite number of states, the bill will become law and shall be applicable to all states in the country. Seeking to apprise the general public of the benefits of GST for the economy, CBEC said exemption for a majority of small retailers will make "products cheaper for consumers".

Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.


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