Kolkata: Union Finance Minister Arun Jaitley today said that the Goods and Services Tax (GST) Bill has finally earned the support of virtually all states except Tamil Nadu.
“So far, every state has given its detailed views on the GST itself. Virtually, every state has supported the idea of GST. Except one state Tamil Nadu, they have made some suggestions which has been taken note of,” he told media after attending the meet of Empowered Committee of State Finance Ministers here.
The Union Finance Minister today met Finance Ministers of 22 states and representatives from seven others in Kolkata.
Discussions on the draft Goods and Services Tax Bill, including the overall framework, and the Information Technology process of the GST were on the agenda of the two-day discussions, West Bengal Finance Minister Amit Mitra, who heads the panel, said.
The meeting here follows West Bengal Chief Minister Mamata Banerjee's declaration of support to the GST, which has come as a boost for the NDA government's efforts to get the bill passed in the Rajya Sabha in the Monsoon Session starting next month.
The bill for a pan-India GST to thoroughly overhaul India's indirect tax regime, first mooted by the Congress-led UPA, has been passed by the Lok Sabha, but is stalled in the Rajya Sabha where the ruling NDA lacks a majority.
The states will draft their own State GST (SGST) bill based on the draft model law with minor variations, incorporating state-specific exemptions.
The Centre and the states will also have to approve the integrated GST law or iGST, which will deal with inter-state movement of goods.
The Constitution amendment bill needs to be ratified by more than half of the states.
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