GST Constitution Amendment Bill Gets Lok Sabha Nod, Now on to State Assemblies

The Lok Sabha on Monday unanimously approved the amendments made by the Rajya Sabha to the GST (Goods and Services Tax) Constitutional Amendment Bill.

The approval comes four days after the much discussed tax reform bill was passed in the Rajya Sabha on August 4, 2017.

GST Will End Tax Terrorism: Modi

Earlier in the day, Prime Minister Narendra Modi while speaking in the Lok Sabha, had said that the GST Bill will end tax terrorism in the country.

Expressing gratitude to all parties for support, Prime Minister Narendra Modi described GST as a “crucial step” towards ending tax terrorism besides reducing corruption and black money and said the new regime of indirect taxation will make consumer the “king”.

He emphasised that the passage of the GST Constitution Amendment Bill by Parliament was not a victory of any party or government but was everybody’s victory as it highlighted the success of the democratic ethos of the country.

Modi said GST will benefit mainly those states which are considered backward and address the problem of imbalanced development.

“GST can’t be seen as a victory of a party or government. It is the victory for the democratic ethos of India and a victory for everyone.” Narendra Modi, Prime Minister

Finance Minister Arun Jaitley, before moving the modified constitution amendment bill in the Lok Sabha, said that the implement of the Goods and Services Tax will reduce tax evasion and improve ease of doing business by engendering a common market throughout the country.

The minister further said the new tax regime will “check leakages, increase tax base for centre and states, eliminate cascading effect of tax on tax, reduce tax evasion and improve ease of doing business.”