Rajya Sabha on Thursday passed the Goods and Services Tax (GST) bill with a little help from former prime minister Manmohan Singh. Singh urged the Congress not to push for amendments.
After the Bill was passed Singh addressed the media and said that the GST could prove to be a game changer, but there will be some difficulties on the way.
“It could be a game changer, but we should not assume that there would not be any difficulties on the way. There should be a constructive spirit for operation between the federal government and state government to resolve the problems,” he said.
Amid demands by industry and stakeholders to delay implementation of the Goods and Services Tax (GST) system, Union Finance Minister Arun Jaitley on Thursday said the government is still looking at 1 July date for rolling out the new indirect tax regime.
"We are looking at 1 July rollout. If any issues crop up, then the GST Council will address them," Jaitley told reporters here after the four GST Bills were passed by the Rajya Sabha. The Lok Sabha has already passed the draft legislations.
"We are already in a transition phase. There will be some challenges because we are switching to a new regime. Some relaxation will be given in compliance," he said.
The GST Bills will now require the President's approval.
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