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Goods and Service Tax (GST) and Black Money Bill likely to be tabled in Rajya Sabha
May, 12th 2015

A day after the Lok Sabha passed the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 to deal with black money, the government is likely to table the bill along with the goods and service tax (GST) Bill in Rajya Sabha today. According to the new Black Money Bill, undisclosed foreign income or assets shall be taxed at the flat rate of 30 per cent.

Earlier the Narendra Modi-led government succeeded to pass the GST Bill in the lower house with a two-thirds majority of the members present and voting as required for a constitutional amendment. Since the Budget Session is going to end on May 15, the government is all set to present both GST and Black Money Bill in Rajya Sabha and will try to clear it. (Also read: Black Money Bill passed in Lok Sabha)

It won’t be an easy task for the government to pass the bills in Rajya Sabha as the government doesn’t have majority in the upper house. Unless Opposition party supports the government, it won’t be able to pass the bill in Rajya Sabha. Parliamentary Affairs Minister Venkaiah Naidu said that he discussed the issue with opposition parties and sought their support. The Opposition did not disclose their stand as of now. The Congress had walked out from the house when the GST Bill was passed. Congress is demanding that the GST Bill should be sent to select committee. The government is hoping the support of Opposition for Black Money Bill. When it comes to GST, Opposition may make governmnet’s task more difficult.

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