Source: News Bharati English04 Aug 2016 10:16:39
New Delhi, August 4: Prime Minister Narendra Modi on Wednesday took to twitter and thanked the leaders and members of all the parties for their support in the passage of Constitution Amendment Bill on GST in the Rajya Sabha. In a series of tweets, PM Modi hailed the move and termed it as a "truly historic occasion" and thanked leaders and members of all parties. He said the GST will "also be the best example of cooperative federalism" and "Together we will take India to new heights of progress".Calling GST as the best example of cooperative federalism, the Prime Minister in a series of tweets said that this reform will promote Make in India, help exports and thus boost boost employment while providing enhanced revenue.
“On this truly historic occasion of the passage of the GST Bill in the Rajya Sabha, I thank the leaders and members of all parties. Our MPs must be congratulated for their path breaking decision to give India an indirect tax system for the 21st century. We continue to work with all parties and states to introduce a system that benefits all Indians and promotes a vibrant and unified national market”, PM Modi said.
“This reform will promote Make in India, help exports and thus boost employment while providing enhanced revenue. I would like to add that GST will also be the best example of cooperative federalism. Together we will take India to new heights of progress”, the Prime Minister tweeted.
The government on Wednesday passed the 122nd Constitution Amendment Bill, 2014 to facilitate rollout of the Goods and Services Tax (GST) in the country. The Constitution (122nd Amendment) Bill, 2014 was approved by the Rajya Sabha with 203 votes in favour and none against. Six amendments, including the one on scrapping the 1% additional tax, moved by the government were approved. The new regime will now subsume all indirect taxes including central excise duty and state VAT/sales tax.
The GST Bill is aimed at bringing uniform tax regime in the country by subsuming state levies. Under it, a single rate of GST will replace Central Excise, State VAT, entertainment, entry and luxury taxes to ensure seamless transfer of goods and services. Now, the Bill will again go to the Lok Sabha and then ratified by at least 50 per cent of the states Legislative Assemblies, to become a law.