Finance Minister Arun Jaitley on Tuesday said the GST Bills are based on the principle of “shared sovereignty” and that the government wants to pass these landmark tax reforms through consensus.
Mr. Jaitley was briefing the party MPs after BJP’s parliamentary party meeting in New Delhi, which was also attended by Prime Minister Narendra Modi.
“The Finance Minister in detail briefed the party MPs about all the four Goods and Service(GST) Bills and said these legislations are based on the principle of shared sovereignty,” , Parliamentary Affairs Minister Ananth Kumar told reporters after the meeting, adding they were drafted after detailed discussions in the GST council, which comprises all States.
The meeting was also told that the new legislations will usher in a one-nation one-tax regime.
Similarly, the Prime Minister had earlier said and conveyed to all parties that the government wants to pass GST bill through consensus and these bills will be beneficial for the common man, Mr. Kumar said.
Yesterday, Mr. Jaitley had introduced four GST Bills to implement the biggest tax reform since independence.
The government proposes to launch GST from July 1.
