New Delhi: The Sabha tonight passed the historic Constitution (122nd Amendment) Bill, 2014 to pave the way to rollout the uniform Goods and Services Tax (GST) regime that will replace all indirect taxes including central excise duty and state VAT/sales tax.
The Bill was passed with the government reaching out to the entire Opposition and assuring that the tax rates would be kept “as low as possible”.
The Bill to amend the Constitution was approved by the Upper House with 203 votes in favour and none against, after a marathon seven-hour debate.
The passage of the Bill followed six official amendments, including tbe scrapping of one per cent additional tax, moved by the government.
The bill was passed by the Lok Sabha earlier. It will now go back to the Lower House to incorporate the amendments approved by the Rajya Sabha.
The bill also has to be approved by 50 per cent of all the state assemblies.
AIADMK was the only party to oppose the measure and its members staged a walkout from the House to register their unhappiness over the bill.
The Congress had been stalling the Bill for about two years. Finally it conceded its position after the Modi government brought about six changes in the bill, including scrapping of 1 per cent manufacturing tax and incorporate clearer provisions for compensating states for revenue loss for five years.
PM thanks members of all parties on the passage of GST Bill in Rajya Sabha
Prime Minister Narendra Modi has thanked the leaders and members of all the parties on the passage of the GST Bill in the Rajya Sabha. 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”, he wrote adding our MPs must be congratulated for their path breaking decision to give India an indirect tax system for the 21st century.
The PM further said:
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.
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.