Futile to discuss effects of GST at present: CPI (M)

New Delhi, Aug 03 : With the Goods and Service Tax (GST) amendment Bill passed in the Rajya Sabha, the Communist Party of India (Marxist) on Wednesday said it would be futile to discuss about its effects since it still needs to be ratified by at least half of the states.

"This is just a constitutional amendment; this is just an approval to bring GST. The amendment bill has to be ratified by state assemblies, after the ratification, the President will be informed only then it will come into effect.

There is no use in talking about GST," CPI (M) general secretary Sitaram Yechury said. Yechury said his party has asked the Central Government to bring back the Bill after the ratification from states and not to be introduced as Money Bill as it will deprive Rajya Sabha of discussion.

"The next time the bill comes for the discussion after the ratification, we asked the Central Government to not introduce it as a money bill otherwise it would only be discussed by Lok Sabha," he added.

The GST Bill was yesterday approved by the Upper House with 203 votes in favour and none against, after a seven-hour debate during which a rare bonhomie was witnessed among the ruling and the opposition parties.

Six official amendments, including scrapping of one per cent additional tax, moved by the government were approved with cent per cent votes.

The bill was passed by the Lok Sabha earlier. It will now go back to the Lower House to incorporate the amendments approved by the Rajya Sabha. The bill will also have to be approved by 50 per cent of all the state assemblies. AIADMK was the only party to oppose the measure and its members staged a walkout from the House to register their unhappiness over the bill which lays the ground for rollout of uniform GST regime that will subsume all indirect taxes including central excise duty and state VAT/sales tax.

Source: ANI