New Delhi, December 19
Passing the Goods and Services Bill appears unlikely in the ongoing Winter Session of Parliament, Finance Minister Arun Jaitley said on Saturday.
The minister, who was addressing Federation of Indian Chambers of Commerce & Industry’s (FICCI) AGM, said the three remaining days of Winter Session would be crucial to get government Bills on amending in the arbitration act and a Bill on setting up commercial courts pushed through the Rajya Sabha.
The Central Government also intends to introduce the bankruptcy Bill in the current session.
The government however remains firm on not putting down the upper limit of 18 per cent on Goods and Services Tax into the Constitution, a prime issue of contention between it and the Opposition Congress.
"A delayed GST is better than a flawed GST".
Jaitley accused the Congress of delaying what he called collateral reasons. "Some people do get sadistic pleasure in seeing India slow down. But then, it's a sadistic pleasure at a very severe national cost. We cannot allow that," he said.
"I have no doubt in my mind that attempt to delay (GST) is entirely for collateral reasons. And the only collateral reason I suspect is if I couldn't do it, then why should somebody else do it?"
He said that he would continue to persuade the Congress into giving up their “rigid” demand. "The Constitution-prescribed tariffs actually can be an albatross around the neck of the future generation. And we owe it to them not to create situations of this kind," he said.
Congress leader Anand Sharma said that April 1, 2016, target for implementing the indirect tax was unachievable. "It (GST) is not going to happen in this session. We will engage with them, but this is not the right time. April 1, 2016, is not sacrosanct and not achievable at all."
Asked if the Congress would support the bankruptcy Bill, Sharma said: "We are in favour of passing what is urgent, what is appropriate". The Lok Sabha has already passed the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bills and Arbitration and Conciliation (Amendment) Bill.
The GST has been a prime issue of contention between the Central Government and the Congress in the Rajya Sabha, where the NDA lacks sufficient numbers to get the Bill passed. The Central Government had initially planned to roll out the indirect taxation — touted to be biggest tax reform since independence — in the next fiscal.
Political parties in the Rajya Sabha agreed on Friday to pass several Bills pending in the House as a result of repeated adjournments in an all-party meet called by Chairman Hamid Ansari. There was however no consensus on the constitution Bill to introduce GST.
The Winter Session of Parliament ends December 21. — Agencies
SOURCE: THE TRIBUNE
Passing the Goods and Services Bill appears unlikely in the ongoing Winter Session of Parliament, Finance Minister Arun Jaitley said on Saturday.
The minister, who was addressing Federation of Indian Chambers of Commerce & Industry’s (FICCI) AGM, said the three remaining days of Winter Session would be crucial to get government Bills on amending in the arbitration act and a Bill on setting up commercial courts pushed through the Rajya Sabha.
The Central Government also intends to introduce the bankruptcy Bill in the current session.
The government however remains firm on not putting down the upper limit of 18 per cent on Goods and Services Tax into the Constitution, a prime issue of contention between it and the Opposition Congress.
"A delayed GST is better than a flawed GST".
Jaitley accused the Congress of delaying what he called collateral reasons. "Some people do get sadistic pleasure in seeing India slow down. But then, it's a sadistic pleasure at a very severe national cost. We cannot allow that," he said.
"I have no doubt in my mind that attempt to delay (GST) is entirely for collateral reasons. And the only collateral reason I suspect is if I couldn't do it, then why should somebody else do it?"
He said that he would continue to persuade the Congress into giving up their “rigid” demand. "The Constitution-prescribed tariffs actually can be an albatross around the neck of the future generation. And we owe it to them not to create situations of this kind," he said.
Congress leader Anand Sharma said that April 1, 2016, target for implementing the indirect tax was unachievable. "It (GST) is not going to happen in this session. We will engage with them, but this is not the right time. April 1, 2016, is not sacrosanct and not achievable at all."
Asked if the Congress would support the bankruptcy Bill, Sharma said: "We are in favour of passing what is urgent, what is appropriate". The Lok Sabha has already passed the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bills and Arbitration and Conciliation (Amendment) Bill.
The GST has been a prime issue of contention between the Central Government and the Congress in the Rajya Sabha, where the NDA lacks sufficient numbers to get the Bill passed. The Central Government had initially planned to roll out the indirect taxation — touted to be biggest tax reform since independence — in the next fiscal.
Political parties in the Rajya Sabha agreed on Friday to pass several Bills pending in the House as a result of repeated adjournments in an all-party meet called by Chairman Hamid Ansari. There was however no consensus on the constitution Bill to introduce GST.
The Winter Session of Parliament ends December 21. — Agencies
SOURCE: THE TRIBUNE
No comments:
Post a Comment