Finance mins from all states to discuss framing of GST bill
The two-day meeting of the Empowered Committee of Finance ministers, to discuss Goods and Service Tax (GST) bill, will be held in the city on Tuesday. Finance minister Arun Jaitley is likely to be present at the meeting which will be presided over by the state Finance minister Amit Mitra, who is the chairman of the committee.
As Trinamool Congress will support the bill, the Central government will not have any problem in getting clearance from the Rajya Sabha members in the monsoon session of the Parliament.
The Lok Sabha has already cleared the bill. The Trinamool Congress (TMC) had initially opposed the bill demanding an amendment, but after considering the draft of the bill, the Chief Minister gave her nod.
While addressing the industrialists after her felicitation, Banerjee said that she would support the GST bill as it would reduce the harassment of the industrialists.
It may be recalled that Jaitley, while addressing the Bengal Global Business Summit held in January, had requested Mamata Banerjee to support the bill as it would help the industrialists from the state.
In Monday’s meeting, framing of GST laws by the states in consonance with the GST Act will be discussed at length. The finance ministers of various states are likely to give proposals regarding the tax structure of the interstate goods and services. The Centre has proposed an additional one per cent hike in the tax on interstate goods and service. This will also be discussed at length in the two-day meeting.
The Goods and Services Tax, if approved, would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the Central and State governments.