Better late than never: Congress on GST Bill passage

New Delhi, Aug 9 : Asserting that the passage of the Goods and Service Tax (Bill) in the Lok Sabha was the victory of all parties, the Congress has said it is in favour of the historic development as they are the 'architects' of the landmark bill.

"It's the dawning of wisdom to understand the strength of democracy because this is something the Congress has always said.

We are ready to pass the GST as we are the architects of it. We need to negotiate because it is for the benefit of the country and the states," Congress leader Renuka Chaudhry told ANI here.

Further stating that the Congress has more experience when it came to the Bill, she added that the grand old party drafted this bill because they understood its economics.

"Anyway better late than never; I'm glad this enlightenment has happened," she said. Congress vice president Rahul Gandhi on Monday hailed the passage of the bill in the Lok Sabha and asserted that the issue relating to the 18 percent cap of GST rate will be taken up by his party in December.

Gandhi while addressing the media said, "Earlier we had three major differences in regard to the GST. We've worked out the differences. There is one issue which is the 18 percent issue and we feel that it is a very important issue that there is a cap.

Because we are worried about inflation resulting from no cap, we will discuss about it in December. But overall, it is a good step." Last week, the GST Bill was passed in Rajya Sabha with the thumping majority of 203 votes.

The All India Anna Dravida Munnetra Kazhagam (AIADMK) members, however, walked out of the Upper House and abstained from voting After its passage in the Lok Sabha, the Bill will go to the state assemblies for ratification.

The Bill needs to be ratified by half of the assemblies to become a law. After the amendments are carried out, Parliament will pass the GST and Integrated GST Bills and the assemblies will pass state GST Bill for the roll out of the tax reform in the country.

The chief ministers have assured that if required they would call a special session for the passage of the Bill in their state assemblies.

The GST is aimed at bringing uniform tax regime in the country by subsuming state levies. Under it, a single rate of GST will replace various taxes to ensure seamless transfer of goods and services.

Source: ANI