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Lawmakers let another GST opportunity go abegging with washout of winter session

Goods and Services Tax - GST - By: - Bimal jain - Dated:- 26-12-2015 - GST has been missing several deadlines in the past. Perhaps, the only major reform both India and the World were looking at from the Parliament s winter session was the passage of the 122nd Constitutional Amendment Bill, 2014 ( 122nd CAB or GST Bill ), which promised to bring in the biggest indirect tax-reforms in the Country ever happened. The Lok Sabha and the Rajya Sabha have been adjourned sine die on December 23, 2015, m .....

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question really is where do all this leave 1.25 billion Indians waiting to see the progress of the Country and see the fruits of economic growth finally reaching their door steps? There aren t any tangible results for them. Overall it s been a very disappointing session in Parliament. Obviously our expectation was that we will be able to get the GST constitution amendment bill passed. There was a very broad consensus across all parties. Unfortunately, the Congress party has decided, it wants to .....

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e on Business Processes for GST on Registration; Draft Report of the Joint Committee on Business Processes for GST Payment Process; Draft Report of the Joint Committee on Business Processes for GST on GST Return This initiative was immensely appreciated by the Trade. Further, the Committee headed by the Chief Economic Adviser, Dr. Arvind Subramanian, had given its recommendations to the Finance Minister in early first week of December, followed by Detailed Report recently released on December 9, .....

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ract from the Government to develop a state of-the-art technology platform for the proposed GST, is going ahead with the project despite the delay in the GST Bill getting passed. With the progress going on, the Industry Inc. was pinning high hopes for the GST Bill to see the light of the day. But, the virtual closing of the Winter session without GST Bill getting passed, is a major blow to the Government so as to get the economy back on track. No doubt, Congress has been stalling passage of the .....

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Minister Arun Jaitley hinted at accepting Congress stand on scrapping of 1% additional tax but said that their demand for incorporating the GST rate in the Constitution Bill was not agreeable. What lies ahead? Clearly, the time is running out for the Modi Government to make major reforms happen in the economy. The promised reforms agenda of the Modi Government is yet to take place in a major way. The Government is mulling waiting till the budget session of the Parliament to secure passage for th .....

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