Parliamentary Debate Initiated on GST Bill

Updates from March 29th, 2017

The extensive seven-hour discussion concerning the Goods and Services Tax (GST) Bill has commenced in the Lok Sabha. Finance Minister Arun Jaitley has presented his rationale for the bill’s passage, emphasizing its role in establishing a unified Indian market. However, leaders of the Congress party have expressed dissatisfaction with the bill’s current form and the process of its introduction in Parliament. Approximately 250 clauses within the bill are scheduled for a vote today, and the government has requested the Speaker to suspend the zero hour to accelerate the voting process.

It is important to note that the nation has already incurred a revenue loss of INR 12 crores since the last time the GST was brought before Parliament. The Congress also harbors concerns regarding the potential impact of GST on bankers and farmers’ loans, although they are eager to avoid appearing opposed to GST in any manner.

As reported in First Post.