Finance Minister meets Congress leaders to discuss stalled GST Bill
With the winter session nearing, the BJP government is working to mend relations with the opposition to ensure smooth passage for stalled bills in the upcoming session. CNBC-TV18 reported that Finance Minister Arun Jaitley met Congress leaders, including former Prime Minister Manmohan Singh, to discuss the delayed GST Bill. The government is open to modification of the current GST draft and could re-work the one percent manufacturing tax clause. If the manufacturing tax goes, then the Government will pay 100 percent compensation to manufacturing states, sources say.
Source: Moneycontrol dated 17 November 2015
K M Mani resigns as Chairman of State FMs panel on GST
Former Finance Minister of Kerala K M Mani has resigned as Chairman of Empowered Committee of State Finance Ministers on GST. He resigned in the wake of the Kerala High Court's observation against him. A meeting of State Finance Ministers is scheduled on 20 November to discuss the model GST law as well as the integrated GST legislation. It is expected that the new chairman would be appointed on that day.
Source: Moneycontrol dated 16 November 2015
Winter session: Congress plans to force vote on FDI proposals, may yield on GST Bill
With barely two weeks left for the winter session of Parliament to begin, the Congress is planning to join hands with like-minded opposition parties and force a vote on the FDI proposals on media and defence, hoping to defeat these on the floor of the House. As far as the GST Bill is concerned, top sources said there is room for compromise provided the government reaches out to the Congress and engages in constructive dialogue.
Source: The Indian Express dated 14 November 2015
Nitish Kumar must back GST, says Finance Minister
The government's emphatic defeat in Bihar will not impede its commitment to economic reforms including the long-awaited national sales tax, Finance Minister Arun Jaitley told NDTV today in an exclusive interview. The GST would replace an array of state and central levies and transform India into a more uniform market. "If Nitish Kumar is a responsible leader, he will support GST. Bihar needs more revenue," the Finance Minister said. "His party has supported GST. I don't see any reason why his party will change position on GST. If it does, it will have to explain the reason."
Source: NDTV dated 9 November 2015
Did you know?
The Report of the Task Force on “Goods and Services Tax Thirteenth Finance Commission” referred to the Report of the Task Force on “Implementation of the Fiscal Responsibility and Budget Management Act, 2003” and had recommended the introduction of a destination-based VAT-type dual Goods and Services Tax in 2004.