GST Bill to be taken up during Monsoon session, says Venkaiah Naidu

Union minister M. Venkaiah Naidu today said that the government is in the favor of passing the Goods and Services Tax (GST) Bill during the Monsoon Session of Parliament, which commences from July 18 and will go on till August 12.

Briefing media after a meeting of the union cabinet here, Naidu said, "A lot of bills are pending in both the houses of Rajya Sabha and Lok Sabha, and some are in Standing Committee. We will speak to all parties regarding the bills, even if it requires personal talks."

"If GST is passed, Indian economy will grow further. We have wide support, but we will like every party to be part of consensus," the minister added.

The proposed tax reform, India's biggest revenue shake-up since independence in 1947, seeks to replace a slew of federal and state levies, transforming the nation into a Customs Union.

The Congress Party, the original author of the tax reform, has said that it would back the GST if the government agreed to cap the tax rate at 18 percent and create an independent mechanism to resolve disputes on revenue sharing between states.

Prime Minister Narendra Modi-led government now is in lieu of hopes to have the Bill passed in the Rajya Sabha in the Monsoon Session of Parliament.