The GST Bill, though approved by the Lok Sabha, is held up in the Rajya Sabha where the ruling NDA does not have a majority.
The GST Bill, though approved by the Lok Sabha, is held up in the Rajya Sabha where the ruling NDA does not have a majority.
Seeing light at the end of the tunnel, Finance Minister Arun Jaitley on Tuesday announced that all the states have expressed their support to the GST bill, other than Tamil Nadu.
The decision was announced after the minister convened a two-day meeting of the committee on Goods and Services Tax (GST) consisting the Finance Ministers of all the states.
“All states have virtually supported GST. Only Tamil Nadu has expressed some reservations,” Jaitley said.
The GST Bill, though approved by the Lok Sabha, is held up in the Rajya Sabha where the ruling NDA does not have a majority.
The Finance Minister also shot down the opposition Congress party's demand to write a cap for the proposed goods and services tax (GST) into the Constitution.
The proposed tax reform, India's biggest revenue shake-up since independence in 1947, seeks to replace a slew of federal and state levies, transforming a nation of 1.3 billion people into a common market.
The Congress party, the original author of the tax reform, has said it would back the GST bill if the government agreed to cap the tax rate at 18 percent and create an independent mechanism to resolve disputes on revenue sharing between states.
