Govt may table GST Bills in Parliament on Monday

Government is looking at passage of GST Bills in the Lower House by March 29 or latest by March 30

Press Trust of India  |  New Delhi 

Govt may table GST Bills in Parliament on Monday

The government is likely to table supplementary goods and services tax (GST) legislations in on Monday.

Sources said C-GST, I-GST, UT-and the compensation law are likely to be introduced in the Lok Sabha on Monday and could be taken up for discussion as early as March 28.

Also, amendments to the excise and Customs Act to abolish various cess as well as furnishing Bills for exports and imports under the new regime will be placed before the House.

The Business Advisory Committee of the Lok Sabha is likely to meet on Monday to decide on the duration of discussion on the Bills, the sources added.

According to the sources, the government is looking at passage of the Bills in the Lower House by March 29 or latest by March 30.

Then, these will move to the Rajya Sabha and this gives the government enough time to bring back any amendment adopted by the Upper House to the Lok Sabha. The amendments can either be rejected or incorporated by the Lok Sabha.

The current session of ends on April 12.

Although the legislations will be introduced as Money Bills, the government wants discussion in both the Houses, the sources said.

The government has set a target of July 1 for rollout of GST, which will subsume excise, service tax, VAT and and other local levies.

Once these Bills are cleared by Parliament, the states will then take the state (S-GST) Bill to their respective assemblies. S-has been prepared as a model of the central (C-GST), with each state incorporating state-specific exemptions.

The integrated (I-GST) deals in taxation of inter-state movement of goods and services while the Union Territory (UT-GST) Bill covers taxation in UTs. The compensation law has been prepared to give a legislative backing to the Centre's promise to compensate the states for 5 years for any revenue loss arising out of implementation.

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Govt may table GST Bills in Parliament on Monday

Government is looking at passage of GST Bills in the Lower House by March 29 or latest by March 30

Government is looking at passage of GST Bills in the Lower House by March 29 or latest by March 30
The government is likely to table supplementary goods and services tax (GST) legislations in on Monday.

Sources said C-GST, I-GST, UT-and the compensation law are likely to be introduced in the Lok Sabha on Monday and could be taken up for discussion as early as March 28.

Also, amendments to the excise and Customs Act to abolish various cess as well as furnishing Bills for exports and imports under the new regime will be placed before the House.

The Business Advisory Committee of the Lok Sabha is likely to meet on Monday to decide on the duration of discussion on the Bills, the sources added.

According to the sources, the government is looking at passage of the Bills in the Lower House by March 29 or latest by March 30.

Then, these will move to the Rajya Sabha and this gives the government enough time to bring back any amendment adopted by the Upper House to the Lok Sabha. The amendments can either be rejected or incorporated by the Lok Sabha.

The current session of ends on April 12.

Although the legislations will be introduced as Money Bills, the government wants discussion in both the Houses, the sources said.

The government has set a target of July 1 for rollout of GST, which will subsume excise, service tax, VAT and and other local levies.

Once these Bills are cleared by Parliament, the states will then take the state (S-GST) Bill to their respective assemblies. S-has been prepared as a model of the central (C-GST), with each state incorporating state-specific exemptions.

The integrated (I-GST) deals in taxation of inter-state movement of goods and services while the Union Territory (UT-GST) Bill covers taxation in UTs. The compensation law has been prepared to give a legislative backing to the Centre's promise to compensate the states for 5 years for any revenue loss arising out of implementation.
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