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The CGST Bill with amendments passed in Lok Sabha
As he sought passage of GST Bills Jaitley said goods may become slightly cheaper once all other taxes are removed after implementation of the Goods and Service Tax.
New Delhi, March 29: Lok Sabha passed on Wednesday the CGST Bill with amendments. All four bills related to GST passed in Lok Sabha.
Lok Sabha Speaker Sumitra Mahajan had called for a vote on clause by clause voting on GST Bill amendments after Finance Minister Arun Jaitley ended his address with a call for passage of the draft bills. "I request the House to pass the bill unanimously drafted by a representative council as is."
As he sought passage of GST Bills Jaitley said goods may become slightly cheaper once all other taxes are removed after implementation of the Goods and Service Tax. the debate for GST that went on for the day without lunch break covered various aspects of GST.
Congress leader Veerappa Moily had interrupted Jaitley to ask if GST Council will have more say in fixing tax rates as Parliament will no longer have power to change or amend tax laws.
Replying to a debate on the four bills related to GST in the Lok Sabha, Jaitley had said all other taxes like entry tax in states will be removed once the GST is in place. "Once all other taxes are removed, goods will become slightly cheaper," he said.
Independent leader from Idukki Joice George during the debate cautioned that with GST Council, Parliament won't have power to decide tax rate. He had also raised apprehensions over GST Council taking over Parliament's powers to fix tax rates.
Noting that both the central and state governments are pooling their sovereignty to have this tax regime, Jaitley had noted that India, despite being one political entity, remained different economic entities with states having different taxes.
"India remained different economic entity. Trucks could be seen waiting outside state border, there was no free flow of goods," the minister said.
He also clarified that commodities like food items will have zero tax.
OneIndia News
