SKP Group
Congress vs NDA: Fight over Aadhaar Bill likely to hit GST negotiations 
The raging fight between the government and the Congress-led opposition over the NDA's decision to have the Aadhaar Bill classified as a money bill could jeopardise political negotiations between the two on the GST Bill, the Congress leadership has indicated. "The manner in which the government wrongly categorised the Aadhaar Bill shows its intention to undercut the Rajya Sabha. This is bound to have serious implications on the government's negotiations with opposition on important Bills such as GST," according to an AICC functionary.

Source: The Economic Times dated 15 March 2016

GST Bill might be passed in April: Finance Minister 
In the first half of the Budget session, the key Aadhaar and Real Estate Regulation Bills were passed. Finance Minister Arun Jaitley said the GST and Bankruptcy Bills would give a major push to India's reform process in an otherwise weak global economic weather. "The current session of Parliament has already seen a landmark legislation passed. And I do hope to see another two being passed in the second part of the (Budget) session," he said at the end of the three-day Advancing Asia Conference, co-hosted by India and the International Monetary Fund.

Source: Business Standard dated 14 March 2016

GST will integrate Indian economy and help attract FDI: ADB Chief Takehiko Nakao
ADB President Takehiko Nakao has pitched for the roll out of GST saying that its introduction will integrate India as "truly one single economy" and help attract more foreign investments. He also added, "The Budget proposal includes more investment in irrigation, agriculture sector. The identification number Bill is already passed and of course, the Land Acquisition Law and also GST are waiting to get through Parliament."

Source: The Economic Times dated 14 March 2016

Delayed GST has hit Maharashtra's Budget, but Plan B ready: State Finance Minister
The BJP-led government in Maharashtra faces huge challenges of reducing revenue deficit, curbing revenue expenditure and increasing capital expenditure. Due to the delay in the GST launch, the government is forced to explore innovative measures to mop up additional revenue. In an interview with Sanjay Jog, State Finance Minister Sudhir Mungantiwar, ahead of his presentation of the Budget on March 18, explained the government's strategy to revive the state’s economy.

Source: Business Standard dated 14 March 2016

Government ready with GST roll out infrastructure, says EA Secretary
Ready with the backup infrastructure for rolling out the GST, Economic Affairs Secretary Mr Shaktikanta Das said at an ASSOCHAM meeting that he is hopeful that the Constitutional Amendment Bill (CAB) for the most important tax reform would be passed by the Parliament in the current Budget session.

Source: Business Standard dated 10 March 2016

Did you know?
The 115th CAB (old GST Bill) was first introduced by the UPA government in 2011. The 115th CAB did not clear due to stiff opposition from NDA in the Lok Sabha. The Bill lapsed later on in 2014, only to be succeeded by a new and reconsidered 122nd CAB (current GST Bill) introduced by the NDA government.
19 Adi Marzban Path | Ballard Estate | Fort | Mumbai 400 001 | India
+91 22 6730 9000 | |
Mumbai | Pune | Hyderabad | New Delhi | Gurgaon | Chennai | Bengaluru
Member of Nexia International
This update contains general information which is provided on an "as is" basis without warranties of any kind, express or implied and is not intended to address any particular situation. The information contained herein may not be comprehensive and should not be construed as specific advice or opinion. This update should not be substituted for any professional advice or service, and it should not be acted or relied upon or used as a basis for any decision or action that may affect you or your business. It is also expressly clarified that this update is not intended to be a form of solicitation or invitation or advertisement to create any adviser-client relationship.

This update is a compilation of news from external sources. Whilst every effort has been made to ensure the accuracy of the information contained in this update, the same cannot be guaranteed. We accept no liability or responsibility to any person for any loss or damage incurred by relying on the information contained in this update.
© 2016 . All rights reserved.