New Delhi (India), Mar. 27 : Union Finance Minister Arun Jaitley on Monday tabled the Central Goods and Services Tax (GST) Bill 2017 in the Lok Sabha.
Looking forward to a consensus on GST Bill, Union Parliamentary Affairs Minister Ananth Kumar earlier in the day expressed hope that the above legislation is passed in the ongoing Budget Session of Parliament.
Kumar told the media here that all parties have been consulted on the GST. "Hope everyone will support the government on it. The government is committed to ensure the passage of GST in the ongoing Budget Session," he added. The GST Council and Union Cabinet have already given their nod to the Central GST, Integrated GST, Union Territory GST and Compensation Bill.
Along with these four bills, amendments to the Excise and Customs Act to abolish various cess as well as furnishing bills for exports and imports under the new GST regime will be placed before the Parliament.
The Business Advisory Committee of the Lok Sabha is likely to meet on Monday to decide on the duration of discussion on the Bills.
States cabinet too will need to approve the State GST and then need the same to be passed by respective state assemblies to roll out the new tax regime.