India: GST Bill

सरदार पटेल ने जिस तरह भारतका राजनीतिक एकीकरण किया और उनको बिस्मार्क कहा जाता है, उसी तरह अरुण जेटली भारत का आर्थिक एकीकरण करना चाहते हैं इस GST Bill के रास्ते। तो देरी किस बात की? काँग्रेस कहती है ये बिल तो पहले हम लाए। आप लाए तो पास करने में और आसानी होनी चाहिए। दोनों मिल के क्रेडिट ले लो। लेकिन पास तो करो।



What is the GST Bill? What does it mean to you and me? The Good and Services tax in the biggest indirect tax reform since 1947 and it has potential to lead the economic integration of India.
This will be levied on manufacture sale and consumption of goods and services. ...... the GST bill will lead to the economic integration of India. ..... The main function of the GST is to transform India into a uniform market by breaking the current fiscal barrier between states. Thus the GST will facilitate a uniform tax levied on goods and services across the country. ..... Currently, the indirect tax system in India is complicated with overlapping taxes levied by the Centre and the State separately. ..... two components- the Central GST and the State GST. They will both have separate powers to legislate and administer their respective taxes. Thus equally empowering both. ....... Taxes such as excise duty, service, central sales tax, VAT ( value added tax), entry tax or octroi will all be subsumed by the GST under a single umbrella. ..... With passing of the GST bill, we can expect a climate of improved tax compliance...... Thus, the GST will basically have only three kinds of taxes, Central, State and another called the integrated GST to tackle inter-state transactions........ The first mention of the bill was in 2009 when the previous UPA government opened a discussion on it. ...... the current challenge facing the bill is that it needs two-third majority of both houses and 50 percent of the state assemblies will have to ratify it. ..... the GST will be instrumental in helping the GDP of India to grow by 2 percent. ......

The GST also offers a solution to the multinationals as it breaks down the indirect tax structure into one single tax payable by the companies.

Ten things to know about the GST Bill
The Bill seeks to shift the restriction on States for taxing the sale or purchase of goods to the supply of goods or services. ...... The GST Council will be the body that decides which taxes levied by the Centre, States and local bodies will go into the GST; which goods and services will be subjected to GST; and the basis and the rates at which GST will be applied. ......... The Centre will levy an additional one per cent tax on the supply of goods in the course of inter-State trade, which will go to the States for two years or till when the GST Council decides. ..... Parliament can decide on compensating States for up to a five-year period if States incur losses by implementation of GST.
GST will be cleared in 15 minutes if govt agrees to our terms, says Rahul
At the core of the dispute between the ruling party and the principal Opposition party is not just the demand for a constitutional cap on the GST median rate, as it is called, but also two other conditions put forward by the Congress.
“We don’t want a GST Bill where there is no cap on taxes. We want a limitation on the maximum tax people can be charged with.” ....... The Congress has demanded withdrawal of an additional one per cent tax on inter-state movement of goods, which has been proposed to provide comfort to manufacturing states that fear a loss of revenue. The party has also demanded a dispute resolution panel headed by a Supreme Court judge. ....... Stating that the GST legislation was conceptualised by his party, Rahul said: “For seven years, Jaitley didn’t allow it to pass. The current Prime Minister, when he was chief minister, too, didn’t allow it to pass. The BJP blocked everything. It has never been the strategy of the Congress to block Parliament.” .......

“This government doesn’t believe in a conversation”

, he said, adding that a compromise on GST was possible. “It is sitting on the table. But the government is not taking it,’ he said. He said that work is yet to begin on the necessary infrastructure that can make GST work. - ........ The Congress has hit back, pointing out that some of its concerns were reflected in the report of Chief Economic Advisor Arvind Subramanian on GST.

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