Venkaiah Naidu hopeful of clearing GST in Budget Session

NEW DELHI(PTI): Union Parliamentary Affairs Minister M Venkaiah Naidu on Saturday expressed hope that the GST bill will be passed in the Budget Session of Parliament.

Union Parliamentary Affairs Minister M Venkaiah Naidu

Addressing the Confederation of Real Estate Developers Association here, Naidu expressed the hope that Parliament will be able to pass the new taxation law in the Budget Session.

On his recent meeting with Congress chief Sonia Gandhi, he said, “We sought the Congress support to pass the GST Bill in the interest of the nation but not on political grounds”.

“I clarified to (Congress chief) Sonia Gandhi at my last Thursday’s meeting that the government has already incorporated a provision to cap the peak GST rate.” He also claimed that this was something that UPA’s GST bill did not have.

The 122nd Constitution Amendment Bill on GST is stuck in the Rajya Sabha mainly due to stiff opposition from the Congress. The Congress is demanding inclusion of a provision to cap the maximum GST rate at 18% in the Constitution Amendment Bill. However, the government is opposed to this.

Finance Minister at an award function in Mumbai today too said, “You can’t start putting tariff in Constitution, it is an illogical demand”.

The other two changes sought by Congress in the GST bill are removal of one per cent additional tax on inter-state transfer of goods and a Supreme Court judge headed dispute resolution panel.

“GST would check corruption in taxation departments. Our GST Bill is more advanced than in many other countries,” Naidu said.

On the proposed Real Estate Bill he said the new legislation will help check unethical practices in the real estate business on one hand and help protect the interests of consumers.

Naidu had on January 7 met Congress president Sonia Gandhi and sought cooperation for early passage of the GST Bill and the Real Estate Bill and even offered a Parliament session.

But the Congress, which has been seeking three key changes in the GST Bill, including a constitutional cap on the GST rate at 18%, to support it – has not cleared its stance.

Posted by on January 9, 2016. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.