New Delhi: Finance Minister Arun Jaitley will table the 122nd constitutional amendment Bill in the Lok Sabha on Friday, to pave the way for s national goods and services tax (GST) regime.
The Bill will be taken up for discussion on Monday. The government is confident it will be passed in the House on the same day, before being sent to the Rajya Sabha.
Senior ministers on Thursday said the government was keen to ensure passage of the constitutional amendment in both Houses in the current session of Parliament and did not foresee any stumbling block, with nearly all major political parties on board.
Jaitley had introduced a Bill on a GST in the Lok Sabha on December 19.
The government proposes to roll out the GST, a new indirect tax regime that will subsume various central and state levies like sales tax, excise and service tax, from April 1, 2016.
Jaitley, after meeting finance ministers from 18 states to discuss the roadmap for the rollout of the GST had earlier said, “I will give a notice in the Lok Sabha (for taking up the Bill) in couple of days.â€
While some states raised concerns, sources said Jaitley promised them that they would be gainers in the new regime and the Centre was committed to fiscal empowerment of the states.
The Centre has already committed to five years of compensation to states under the GST regime.
The GST Bill is expected to add up to 2% to the country’s GDP, reduce tax evasion and cut down the cost of doing business.
(With inputs from NewsMobile Political Bureau)