“There is a central GST Act, there is a state GST Act, there is an integrated GST Act; all these bills have to be passed.”
In an interview with ET Now, Mythili Bhusnurmath, Consulting Editor, ET Now, shares her views on the proceedings in Parliament and the fate of the GST bill. Excerpts:
ET Now: With the way things are headed in parliament, the GST has become a far sight in this session. Is there more delay in the works for this critical policy?
Mythili Bhusnurmath: Absolutely, the government deadline of April 2016 was always a bit over-ambitious. This is because the entire procedure of getting the constitutional amendment, getting the approval from the states, and getting the various acts which have to be passed is lengthy. There is a central GST Act, there is a state GST Act, there is an integrated GST Act; all these bills have to be passed. April 2016 was always a little unrealistic. My best guess is that it will be April 2017, maybe even a little later and that doesn’t have much to do with parliament itself passing the bill.
There are a number of things which need to be looked into. It does look a little bleak at the moment, but the government is fairly hopeful that they will be able to conduct more effective floor management. Therefore, let us wait and see. Let us not give up hope entirely because the government has put all its political weight behind this. They have got too much at stake; therefore, we will see it through. Of course, accompanied by the usual sound and drama which is a part of India.
Source: Economic Times