The Goods and Services Tax (GST) Bill has been listed for consideration and passage in the Lok Sabha on Tuesday.
Finance Minister Arun Jaitley had earlier said the Goods and Services Tax Bill will simplify the tax regime and contribute significantly for the growth of country's economy.
He expressed hope that GST can lead to two percent increase in GDP.
Jaitley also tried to allay the apprehension of opposition members, saying that there will be no revenue loss to states on account of GST implementation.
He said, besides, ease of doing business, GST would help trade to grow and taxation of states will not be lost in any manner.
The opposition had earlier accused the Centre of changing its stand and has demanded that as the Bill contains many new provisions, it needs to be sent to Standing Committee for thorough discussions.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app