Kumari Palany & Co

GST bill passed in the Rajya Sabha

Posted on: 04/Aug/2016 11:47:34 AM
For the last few months, the government was making serious efforts to pass the Goods & Services Tax (GST) bill in the parliament. After a lengthy debate the bill was passed in the Rajya Sabha. DMK MPs supported this bill while AIDMK MPs staged a walk out.
 
The constitutional amendment will enable both the Centre and the States to simultaneously levy the GST, which will subsume all indirect taxes currently levied, including excise duties and service tax. It will be levied on consumption rather than production. 
 
The Rajya Sabha passed the constitutional amendment by two-thirds majority, as all parties, except the AIADMK, pledged support. The amendments moved by Mr.Arun Jaitley were also put to vote. The Bill will now be returned to the Lok Sabha for its approval.