GST Bill: ‘Principle of GST rate decided, should provide relief to common man’

GST Bill: Businesses earning less than Rs 1.5 crore turnover will be under state control, and those above that will be jointly controlled by the state and Centre.

By: Express Web Desk | New Delhi | Updated: July 26, 2016 8:19 pm

In a ‘big decision’ that could help in pushing the GST Bill through the Parliament, the wording for the five-year compensation to be paid to the states has been worked out Tuesday, during the state finance ministers meet.

Announcing the decision, West Bengal Finance Minister Amit Mitra said that the principle of GST rate has been decided. “Principle of GST rate decided — rate should provide relief to common man while not resulting in loss of revenue to states,” Mitra told reporters.

He added that businesses earning less than Rs 1.5 crore turnover will be under state control, and those above that will be jointly controlled by the state and Centre.

The GST Bill has been blocked by Congress in the last few Parliament sessions, with the party seeking an 18 per cent cap on the rate. Union Finance Minister Arun Jaitley, however, spoke to senior members of the Congress before the current Monsoon Session began to build consensus on the Bill. The Congress has 60 members in the 245-member Rajya Sabha, but the NDA government is hoping for the passage of the Bill with support from other state parties.

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  1. A
    Jul 26, 2016 at 3:12 pm
    GST Bill has exposed Congress Party which has been opposing its own bill forgetting that it may improve our economy and more progress and development of Nation.Party definitely feels that more progress by Modi govt then less chances of Congress Party to come to power and without power party can not survive and feels like a fish out of water.
    1. A
      Jul 26, 2016 at 3:04 pm
      People normally think that GST means Gurcharan Singh Tohra, ex Akali leader who was always in confrontation with Prakash Singh Badal.
      1. D
        Jul 26, 2016 at 3:07 pm
        Congress wants big share of MODI's Hard work within two years of being in the government, its pity Indian do not have empathy any more to appreciate good work done by anyone always on street to protest and taking law in their own hand, damage privet and public property blindly following what others doing then disappear to call them innocent - EVEN politicians do the same
        1. g
          Jul 26, 2016 at 4:37 pm
          Gujarat, TN, Maharashtra all manufacturing states opposed. But, now the Govt has worked out a better compensation to these states. That is the difference.
          1. S
            Srinivasan Ramachandran
            Jul 26, 2016 at 3:48 pm
            Dear friend please be informed that BJP was blocking this bill from day one and Gujarat was the state that objected tooth and nail when Cong brought the GST proposal and pla its politics first.However in the interest of Indian economy Cong should support this bill but they too play their dirty politics , as usual on this issue.But be clear and sure Cong can never even dream of coming back to power so long as the joker RG leads the party.
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