Sat, Feb 25, 2017 | updated 11:39 PM IST

Passage of GST Bill important step forward in unifying indirect tax structures: Jaitley

Updated: Aug 09, 2016 07:52 IST

New Delhi, Aug. 9 (ANI): With the Lok Sabha unanimously passing the Goods and Services Tax (GST) Bill, Union Finance Minister Arun Jaitley has said it is a very important step forward in unifying the indirect tax structures in India.

"Both Houses of Parliament have approved it and what is important that they have done it by a unanimous vote, which shows the larger political consensus on this issue. It, of course, now moves to the states and we'll request the states to grant their approval expeditiously," Jaitley told the media outside Parliament.

Congress vice president Rahul Gandhi also hailed the passage of the bill, saying that the issue relating to the 18 percent cap on GST rate would be taken up by his party in December.

Addressing the media, Gandhi said, "Earlier, we had three major differences in regard to the GST. We've worked out those differences. There is one issue, the 18 percent cap issue, and we feel that it is a very important that there is a cap. Because we are worried about inflation resulting from no cap, we will discuss about it in December. But overall, it is a good step."

Last week, the GST Bill was passed in the Rajya Sabha with a thumping majority of 203 votes.

The All India Anna Dravida Munnetra Kazhagam (AIADMK) members, however, walked out of the Upper House and abstained from voting.

After its passage in the Lok Sabha, the bill will go to the states for ratification.

The Bill needs to be ratified by half of the states to become a law.

After the amendments are carried out, Parliament will pass the GST and Integrated GST Bills and the assemblies will pass state GST Bill for the rollout of the tax reform in the country.

Chief ministers of various states have said if required, they would call special sessions for the passage of the bill in their respective state assemblies.

The GST is aimed at bringing uniform tax regime in the country by subsuming state levies.

Under it, a single rate of GST will replace various taxes to ensure seamless transfer of goods and services. (ANI)

New Delhi [India], Feb. 25 (ANI): Communist Party of India-Marxist (CPI-M) on Friday took a jibe at Prime Minister Narendra Modi and questioned the Modi government over the Nagaland peace accord.

Full Story >>

Panaji (Goa) [India], Feb 25 (ANI): Hundreds of revellers including locals and tourists thronged at the exciting annual Goa Carnival of fun and frolic on Saturday here.

Full Story >>

Sircilla (Telangana) [India], Feb. 25 (ANI): Minister of Information Technology, Government of Telangana K. Taraka Rama Rao met a delegation of South Indian Mills Association from Tamil Nadu at Siricilla in Telangana.

Full Story >>

Chennai (Tamil Nadu) [India], Feb. 25 (ANI): Tamil Nadu Chief Minister E. Palaniswami wrote a letter to Prime Minister Narendra Modi on Saturday requesting him to construct a reservoir across Cauvery river at Mekedatu.

Full Story >>

India has nearly lost Kashmir: Chidambaram

Updated: Feb 25, 2017 22:13 IST

Hyderabad(Telangana)[India], Feb. 25(ANI): Former finance minister P. Chidambaram on Friday said that India has nearly lost Kashmir.

Full Story >>

Malda (West Bengal) [India], Feb 21 (ANI): A total of 35 bags containing nearly 1,500 tortoises were seized by railway authorities here on Friday.

Full Story >>

Kolkata (West Bengal) [India], Feb 21 (ANI): A day after an Indian-origin engineer, Srinivas Kuchibhotla was shot dead in Kansas, dozens of people held a candlelight vigil at Mother Teresa's statue here, seeking justice against the hate crime.

Full Story >>

Bhubneshwar (Orissa) [India], Feb.25: Union Minister Dharmendra Pradhan has asked the BJD and the Congress to apologise for failing to usher in development, rather than criticising Prime Minister Modi's remark on the state.

Full Story >>

Mumbai (Maharashtra) [India], Feb.25 (ANI): The Air Intelligence Unit intercepted a passenger at Mumbai airport on Saturday morning and seized gold bars worth Rs. 57, 62,000.

Full Story >>

Hyderabad (Telangana),[ India], Feb. 25(ANI): Former finance minister P. Chidambaram on Saturday took a fresh dig at the Centre over demonetisation, citing the seizure of cash in new denominations during the elections in Punjab and Uttar Pradesh.

Full Story >>

Bordumsa (Arunachal Pradesh) [India], Feb.25 (ANI): The picturesque state of Arunachal Pradesh has always played an important role in promoting northeast culture and tourism.

Full Story >>

New Delhi [India], Feb.25 (ANI): Minister of State for External Affairs, M. J. Akbar will pay an official visit to Mali from February 28 to March 4, and to Congo from March 5 and 6.

Full Story >>

Mumbai (Maharashtra) [India], Feb. 25 (ANI): Maharashtra Chief Minister Devendra Fadnavis on Saturday ruled out an alliance with the Congress Party to achieve a majority in the Brihanmumbai Municipality Corporation (BMC).

Full Story >>

New Delhi [India],Feb. 25(ANI): Bharatiya Janata Party(BJP) leader Subramanian Swamy on Saturday said that the Centre needs to recast its foreign policy, and adopt a give and take principle to maximise benefits for itself.

Full Story >>

Patna (Bihar) [India], Feb.25: Taking a dig at Prime Minister Narendra Modi Bihar chief minister Nitish Kumar on Saturday questioned his self-proclaimed 'mother-son' relationship with the River Ganga.

Full Story >>

Imphal (Manipur) [India], Feb.25 (ANI): The chanting of 'Hare Krishna Hare Rama' engulfs Imphal as the famed Iskcon Temple on the banks of the Imphal River attracts pilgrims from across the region and the world.

Full Story >>

Allahabad (Uttar Pradesh)[India], Feb. 25(ANI): Deputy Election Officer Mahendra Kumar on Saturday said that the Election Commission is investigating a case registered against Bharatiya Janata Party(BJP) Uttar Pradesh unit chief Keshav Prasad Maurya.

Full Story >>

Imphal (Manipur) [India], Feb. 25 (ANI): Manipur Chief Minister Okram Ibobi Singh on Friday hits back at Prime Minister Narendra Modi for his remark on the economic blockade and said that this kind of statement was not expected from the former.

Full Story >>

New Delhi [India], Feb. 25 (ANI): Condemning the statement made by former Jammu and Kashmir Chief Minister Farooq Abdullah, National Panthers Party leader Bhim Singh said Abdullah should apologise to the people of Jammu and Kashmir whom he has looted.

Full Story >>

New Delhi [India], Feb.25 (ANI): Congress leader C. P. Joshi on Saturday criticized Prime Minister Narendra Modi's remarks on development in Manipur and claimed that there is an improvement in the infant mortality rate.

Full Story >>