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SKP GST News
Passing GST will push our economy into double-digit growth: Adi Godrej
“While it was not expected that the Finance Minister would make any announcements on GST in the 
Budget, since it is in Parliament, I would like to tell the PM (Prime Minister) to find some way of passing GST. It will push our economy into double-digit growth, which is what our country needs at this point. Everything else will then fall into place, which includes getting private-sector investments going.” said Mr Adi Godrej.

Source: Business Standard dated 7 March 2016

12 Bills, sans GST, lined up for ‘calm’ Houses
With the functioning of Parliament being relatively smooth last week, the government is keen on bringing the important legislative agenda next week. A total of 12 Bills, sans the controversial GST legislation, will be taken up - seven in the Lok Sabha and five in the Rajya Sabha.

Source: The Pioneer dated 7 March 2016

 
Government could gain votes in 2016 to pass GST Bill: Morgan Stanley
The government is likely to gain the votes it needs to pass the GST Bill this year which could have 
far-reaching macroeconomic and earnings implications, says a Morgan Stanley report. In recent times, investor expectations regarding the passage of the GST Bill, have waned due to a logjam in the Upper House. However, according to the global financial services company, support for the GST Bill is rising in the Rajya Sabha.

Source: The Economic Times dated 5 March 2016

 
Additional cess to be subsumed in GST within one year: Tax official
A senior tax official said that the government will subsume all the additional levies like Krishi Kalyan and infrastructure cess in the GST, within one year of its implementation. In the Budget 2016-17 presented by Finance Minister Arun Jaitley last month, the government imposed two new cesses - one related to farms and another for infrastructure.

Source: The Economic Times dated 5 March 2016

 
Government willing to reach out to Rahul on GST Bill: Naidu
In an exclusive interview with The Hindu, Parliamentary Affairs Minister M Venkaiah Naidu said the BJP government had never accused Rahul Gandhi of being the main hurdle in the passage of the GST Bill, saying “it is the media and some political analysts who have said Rahul Gandhi calls the shots in the Congress.” Compared to the last two parliamentary sessions that ended in complete washouts, Mr Naidu said the current one seemed to be on the right track since it was happening in the backdrop of “increased public and political demand for a productive session.”

Source: The Hindu dated 5 March 2016


Did you know?
Till date, five committees have been constituted by the Empowered Committee of State Finance Ministers to deal with the various aspects of work relating to the introduction of GST. The committees are:
  1. The Committee on the Problem of Dual Control, Threshold and Exemptions in GST Regime;
  2. The Committee on Revenue Neutral Rates for State GST & Central GST and Place of Supply Rules (A sub-committee has been constituted to examine issues relating to the Place of Supply Rules);
  3. The Committee on Integrated GST (IGST) & GST on Imports (A sub-committee has been set up to examine issues pertaining to IGST model);
  4. The Committee to examine Business Processes under GST Regime (three sub-committees have been constituted to examine issues pertaining to registration & returns, refunds and payments); and
  5. The Committee to draft model GST Law (three sub-committees have been constituted to draft various aspects of the model law).
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