Rajya Sabha passes GST Bill

After being subject to months of haggling and histrionics, the Goods & Services Tax (GST) finally had its historic day in the Rajya Sabha with the passage of the Bill to amend the Constitution, paving the way for what is popularly referred to as the concept of “one nation, one tax.”

Rajya Sabha passes GST Bill

>GST Bill: Green light for ‘one nation, one tax’

Barring the AIADMK, which staged a walkout on the plea that it violated federalism, all others, including the Congress, voted for the Bill.

>Now, iron out the wrinkles

For the GST regime to be successful, it is important to not only reduce the costs of compliance within the system but also make more effective the costs associated with evasion.

>The age of GST dawns

As the most important indirect tax reform since 1947, it will create a single market and push competitiveness. It represents a historic political consensus, but there are potential implementation problems.

>Miles to go before GST becomes a reality

The NDA cannot afford to rest easy as several hurdles remain to be crossed on a war-footing to roll out the new tax regime from April 1, 2017.

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Printable version | May 8, 2021 2:48:47 PM |

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