States, Centre reach consensus on GST Bill

Finance minister Arun Jaitely has been successful in breaking the deadlock on GST. The Centre and the states have reached a consensus on the Constitution Amendment Bill on GST, after the finance minister's meeting with state FMs.

With the end of the deadlock, the GST Bill may be tabled in the current session of the parliament. No further meetings will be required on GST Bill between Jaitley and state FMs.

Sources also say that petroleum products are likely to be kept outside the Bill. Also, the Centre may try for a constitutional provision for the GST compensation fund. The entry tax is likely to be subsumed into GST.