Published On: Wed, Mar 25th, 2015

FM Jaitley hopes to pass GST in second part of budget session

New Delhi: We hope to pass a national Goods and Services Tax (GST) in the second half of parliament’s budget session, Finance Minister Arun Jaitley said on Wednesday.

Finance Minister Arun Jaitley

Finance Minister Arun Jaitley

Parliament’s budget session is currently under recess and will resume on April 20.

Investors and manufacturers have long advocated the GST as a way to simplify taxes while broadening the tax base, adding as much as 2 percentage points to economic growth in Asia’s third-largest economy.

The Centre has included in the GST Constitutional Amendment Bill, the compensation which will be paid to states for revenue loss on account of rolling out the new indirect tax regime.

Inputs with Reuters

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