Govt set to table 4 bills for GST’s July rollout

All four bills that are crucial for the proposed rollout of India’s biggest tax reform — the Goods and Services Tax (GST) — from July 1 are likely to be introduced in Parliament this week.

The supplementary legislations are most likely to be introduced Monday, and could be taken for discussion in the Lok Sabha Tuesday. The government is likely to introduce these bills as money bills so that only the Lok Sabha, where NDA has a clear majority, needs to pass it.

However, these bills will also be introduced and debated in the Rajya Sabha.

The government is looking to pass these bills this week itself. The current Budget session of Parliament will end on April 12.

The GST Council and the Union Cabinet have already cleared Central GST, Integrated GST, Union Territory GST and Compensation Bill.

State Cabinets will also need to approve State GST, to be passed by respective state Assemblies to roll out a unified national market by replacing a string of local levies with a single tax.

The government is looking to introduce GST supporting legislations in the Parliament this week to bring in the new indirect taxation from July 1.

These legislations are most likely to be introduced on Monday and could be taken for discussion in the Lok Sabha on Tuesday.

The government is likely to introduce these bills as money bill so that only Lok Sabha, where NDA has a clear majority need to pass it. However, these bills will also be introduced and debated in the Rajya Sabha.

The government is looking to pass these bill this week itself.

The current Budget session of Parliament will end on April 12.

The GST council and Union Cabinet have already given their nod to Central GST, Integrated GST, Union Territory GST and Compensation bill. Along with these four bills, amendments to the excise and Customs Act to abolish various cess as well as furnishing Bills for exports and imports under the new GST regime will be placed before the Parliament.

The Business Advisory Committee of the Lok Sabha is likely to meet on Monday to decide on the duration of discussion on the Bills. States cabinet too will need to approve State GST and then need to be passed by respective state assemblies to roll out the new tax regime.