Govt likely to table GST Amendment Bill in Parliament next week
March, 17th 2011
The government is likely to table the Goods and Services Tax (GST) Constitution Amendment Bill before Parliament in the next 4-5 days, said a senior official.
"The Cabinet has cleared that proposal (on GST). In another 4-5 days we should be able to put it in Parliament," Central Board of Excise and Customs (CBEC) Chairman SD Majumder told reporters at a PHD Chamber event.
Yesterday, the Cabinet approved Constitution Amendment Bill to pave the way for implementation of GST, a new indirect tax regime that will subsume various levies such as excise and service tax.
Majumder further said there are some differences on the GST structure with a few states, adding that he is hopeful of GST rollout sometime in 2012.
He added that the government is mulling to float a special purpose vehicle (SPV) for setting up IT infrastructure in GST.
The SPV, called GST Net, will have the government, the states and technology partner National Securities Depository (NSDL) as its stakeholders.
"The SPV will be owned by three stakeholders--Centre, 30 plus states and the technology partner. And we have identified the technology partner NSDL," Majumder said.
In June this year, NSDL would start a pilot project on GST in a limited way in 11 states.