Govt hopes to pass GST bill in upcoming parliament session

The government hopes to pass a bill for the rollout of a nationwide goods services tax (GST) in the upcoming session of parliament that starts on July 18, Parliamentary Affairs Minister M Venkaiah Naidu told reporters on Wednesday.

Parliamentary Affairs Minister M Venkaiah Naidu
Parliamentary Affairs Minister M Venkaiah Naidu

Investors have billed the proposed GST as a “silver bullet” for India’s economy that would replace multiple federal and state levies – a chaotic structure that inflates costs for businesses.

The opposition Congress party, however, has blocked the measure in parliament.

The upcoming parliament session, popularly known as the monsoon session, will end on Aug. 12, Naidu said.

Reuters