GST bill pending in Rajya Sabha requires amendment: P Chidambaram

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NEW DELHI: Former Finance Minister and Congress leader P Chidambaram on Thursday said the GST bill pending in the Rajya Sabha is “flawed” and required amendment.

The Union Cabinet yesterday approved amendments to the GST bill, dropping the 1 per cent manufacturing tax and also incorporating words that guarantees compensation to states for first five years.

“We support the GST, we are the original proponent of the GST idea. The bill (pending in Rajya Sabha) is flawed and therefore we say the bill requires amendment. Opposing a bill which is badly drafted,” he said, adding that he does not know what amendments were cleared by Cabinet yesterday.

By doing away with the 1 per cent inter-state tax over and above the GST rate, the government has met one of the three key demands over which Opposition Congress has been blocking the Bill in the Upper House.

The other demands of including GST rate in the statute and a Supreme Court judge-headed dispute resolution body has not been accepted.

“On the contrary asking for a more perfect bill, I am not saying that a completely perfect bill is possible, is in fact supporting reform. Passing a flawed bill is anti reform,” Chidambaram said.

 According to sources, Finance Minister Arun Jaitley and Chief Economic Adviser Arvind Subramanian today held several rounds of talks with leaders of Congress and other parties including the Samajwadi Party, JD(U) and CPI(M) to build a consensus on the GST Constitutional Amendment Bill. The bill, after incorporating the changes cleared by Cabinet yesterday, is likely to be table in the Rajya Sabha next week.
Source: http://timesofindia.indiatimes.com/business/india-business/GST-bill-pending-in-Rajya-Sabha-requires-amendment-P-Chidambaram/articleshow/53439755.cms

One Reply to “GST bill pending in Rajya Sabha requires amendment: P Chidambaram”

  1. Abey says:

    Subramanian Swamy should not be ignored in relevant issues of GST bill. His expertise should be made use of, in spite of his maverick style.

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