Not fair on Congress' part to put riders on GST passage: Venkaiah Naidu
Union Minister M Venkaiah Naidu criticised the Congress saying it is "not fair" on its part to set conditions for the passage of the GST Bill and if the said clauses were so crucial, the UPA could have brought these up in the original Bill when it was in power. He also mentioned that one condition (cap on taxes) put forth by the Congress and reiterated by its Vice President Rahul Gandhi during an event in Mumbai was "not liked" by anybody.
Source: The Economic Times dated 17 January 2016
Congress ready to pass GST if demands are met: Rahul Gandhi
Congress Vice President Rahul Gandhi said his party was ready to pass the GST Bill if the National Democratic Alliance (NDA) government accepted its demands. Gandhi, who was speaking to students of NMIMS University in Mumbai, claimed that the problem in the passage of GST was internal opposition in the Bharatiya Janata Party (BJP) and added that GST requires huge infrastructure that needs to be created.
Source: Business Standard dated 16 January 2016
Government examining stakeholders’ feedback on GST
"The GST success is predicate on IT infrastructure. The business processes which are already in the public domain - registration, return, refund and payments - are getting responses and we are examining those responses," CBEC Chairman Najib Shah said in a keynote address on 'Taxation issues and the way forward for GST and FDI' at CII's Retail Summit.
Source: Moneycontrol dated 15 January 2016
Focus on GST in pre-budget recommendation by FISME
The Federation of Micro, Small and Medium Enterprises (FISME), in its budget recommendation to the Finance Ministry, has recommended various aiding and enabling policy measures. It includes the implementation of an inter-state GST prior to the full-fledged GST.
Source: Moneycontrol dated 14 January 2016
Budget 2016: Government pins hope on Budget session to pass GST
The government hopes to pass the Constitution Amendment Bill on national GST in the Rajya Sabha in the latter half of the Budget session and then get the requisite half of the 29 states to ratify the Bill. The plan, if it works out, could facilitate the rolling out of the GST regime by October 1. In the Rajya Sabha, all parties barring the Congress (67 MPs) and All India Anna Dravida Munnetra Kazhagam (AIADMK) (12 MPs), support the Bill.
Source: Business standard dated 14 January 2016
Power sector players bat for GST, infra status for T&D, service tax waiver
Companies operating in the power sector have made a strong case for the inclusion of power, coal and natural gas in the GST regime to subsume multiple taxes and thereby reduce the cost of power projects and per unit tariff. They say the power transmission and distribution (T&D) sector should be granted the infrastructure industry status and all related tax benefits available to other infrastructure sectors be given to this sector as well.
Source: Business Standard dated 13 January 2016
Did you know?
Every country has faced inflation for a limited period after GST is implemented in their country. Only after a few years post GST implementation have countries been able to reap the real benefits of GST in their economy.