Parliament passes GST Bill

Tue 09 Aug 2016, 10:41:56
Parliament has passed 122nd Constitution Amendment Bill with Lok Sabha approving the amendments made by the Rajya Sabha. The bill was passed yesterday by 443 votes in favour and none voting against. The bill will pave the way for the roll out of Goods and Services Tax, GST regime across the country.
Intervening at the end of four hour long discussion, Prime Minister Narendra Modi said the GST is a great step by Team India towards transformation and transparency in tax regime. He said it will bring freedom from tax terrorism.
Thanking all political parties and the state governments for their support to the bill, he said, the passage of the bill cannot be seen as a victory of a party or government. Mr Modi said, it is a win for the democratic ethos of India and a victory for everyone. He said, passing the GST was not about a parliamentary

majority but about consensus which hs been developed because of trust between the Centre and the States.
Recalling the concerns he had over the bill when he was Chief Minister of Gujarat, the Prime Minister said now it was easy for him to address those concerns in the new bill.
Terming the bill as consumer as well as business, Mr Modi said small business will feel more secure and assured it will have no impact on inflation as many items of common man use including medicines have been kept out of it.
He said, the GST will benefit mainly those states which are considered backward states and also address the problem of imbalanced development. He said the bill will help curtail black money and traders will be compelled to give proper bills. He said, GST will work as a catalyst to strengthen federal structure of the country.

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