Get ready for 7-hour GST debate in Lok Sabha today. Here are the details
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The Lower House of the Parliament, or the Lok Sabha, is going to debate four bills related to the Goods and Services Tax (GST) and the discussion is going to be as long as for seven hours.
The Indian Government wants to push GST roll out by July 1 and is looking for majority on the bill, which will bring the country under a unified tax regime, eliminating a number of indirect taxes at the Centre and state level.
The marathon debate will begin at 12 noon with Finance Minister Arun Jaitley speaking first. For the Congress party, M Veerappa Moily will be the first speaker.
Jaitley has said the "revolutionary"GST bill was the need of the hour.
The bills being debated today are the Central GST bill, the Integrated GST bill, the Union Territories GST bill and the compensation law. The bills will then go to theRajya Sabha or upper house for discussion. The Rajya Sabha can suggest changes which will be taken back to the Lok Sabha. The Lok Sabha can then choose to accept or reject the proposals.
After consensus from the parliament, a state GST bill will be presented in state assemblies for their approval.
It is expected Congress party will raise opposition to few clauses in the bill.
"In general, we are supporting the bill. We will put our views across tomorrow and move necessary amendments," said one of the Congress MPs.
The GST Council has already approved four-tier tax slabs of 5, 12, 18 and 28 per cent plus an additional cess on demerit goods like luxury cars, aerated drinks and tobacco products.
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The Indian Government wants to push GST roll out by July 1 and is looking for majority on the bill, which will bring the country under a unified tax regime, eliminating a number of indirect taxes at the Centre and state level.
The marathon debate will begin at 12 noon with Finance Minister Arun Jaitley speaking first. For the Congress party, M Veerappa Moily will be the first speaker.
Jaitley has said the "revolutionary"
The bills being debated today are the Central GST bill, the Integrated GST bill, the Union Territories GST bill and the compensation law. The bills will then go to the
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It is expected Congress party will raise opposition to few clauses in the bill.
"In general, we are supporting the bill. We will put our views across tomorrow and move necessary amendments," said one of the Congress MPs.
The GST Council has already approved four-tier tax slabs of 5, 12, 18 and 28 per cent plus an additional cess on demerit goods like luxury cars, aerated drinks and tobacco products.
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