A Akhter /
Discussion on the One Hundred Twenty Second Constitution Amendment Bill, 2014, also known as Goods and Services Tax (GST) bill began in Rajya Sabha today. Finance Minister Arun Jaitley moved the bill for consideration and passage.
Speaking on the bill, Mr. Jaitley termed the legislation as one of the most significant tax reforms in the history of the country. He said, the GST Bill will give a boost to the economy which is now at a critical stage and put in place a uniform economic market. Mr. Jaitley said, the bill will enable seamless transfer of goods across the country besides empowering the Centre and the states to increase their revenues.
Initiating the discussion, P Chidambaram of Congress said, his party was never opposed to the idea of GST. He said in the earlier bill, there were too many flaws and hence Congress didn’t support it. Mr. Chidambaram welcomed the government’s decision of dropping the provision of one percent inter- state transaction tax in the bill.