PM Modi holds meeting with top ministers to discuss GST

Rajya Sabha's Business Advisory Committee has set aside five hours of discussion on the bill for introduction uniform taxation across the country

 

Prime Minister Narendra Modi held a meeting with his top Cabinet colleagues last evening to firm up the strategy for the passage of Goods and Services Tax (GST) bill in the Rajya Sabha.

The bill has been listed for consideration and passage in the Upper House next week.

The Business Advisory Committee of the Rajya Sabha has earmarked five hours of discussion for the bill which seeks to introduce a system for uniform taxation across the country.

The government needs the support of two-third members of the Upper House to amend the constitution to turn GST into law.

The Union Cabinet had cleared changes in the Bill earlier Wednesday dropping the 1 per cent additional tax on inter-state sales and providing guarantee to compensate states for any revenue loss in the first five years of rollout.

The GST Bill was passed by the Lok Sabha in May last year but is stuck in the Rajya Sabha due to resistance from the opposition.