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Will try to introduce GST Bill in Winter Session
December, 03rd 2014

Finance Minister Arun Jaitley reiterated on Monday that the government will try to introduce the constitutional amendment Bill on a Goods and Service Tax in the ongoing winter session of Parliament, after state finance ministers meet next week on a proposal by the Centre in this regard.

“The Bill would be taken up by the Cabinet after the Empowered Committee (of state finance Minister) meeting on December 12,” he said here in New Delhi.

"We will try to introduce the constitutional amendment bill on GST in this session," Jaitley said at an event organised by the Competition Commission Of India (CCI).

The government has planned a heavy reform agenda for the winter session, including amendment to land acquisition act, the long-pending insurance bill and the constitutional amendments to GST.

Various policymakers, including Minister Of State for Finance Jayant Sinha, believe that GST can be in force by its deadline of April 1, 2016, inspite of differences with the states on keeping alcohol and petroleum products as part of the GST, and on the issue of compensation.

A senior government official said last week that the government is looking at presenting the constitutional amendments in the cabinet after December 12, and then table them in Parliament.

Separately, on the sidelines of the CCI event, a senior regulatory source said that the final order on Sun Pharmaceuticals' acquisition of Ranbaxy will come in a few days time.

"We expect the final order on the merger of Sun Pharmaceuticals and Ranbaxy by Wednesday," said the official who did not wish to be named.

 
 
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