Moneycontrol
Get App
Last Updated : Aug 11, 2015 07:59 PM IST | Source: PTI

GST rollout difficult from Apr if bill not passed now: Mani

On Congress stalling the GST Bill in Rajya Sabha, Mani, the Finance Minister in the Congress led United Democratic Front government in Kerala, said: "There is no protest against the Bill. Protest is for a different issue."


It will become "very difficult" to roll out the new indirect tax regime by the April 2016 target if GST bill is not passed in the current session of Parliament, Chairman of Empowered Committee of State Finance Ministers K M Mani said on Tuesday.

He added however that in case the passage of the Constitution Amendment Bill - to implement the Goods and Services Tax - is pushed to the Winter Session, efforts will be made to enforce it from April 1.

"I hope that the Bill can be passed (in current session). Otherwise, there is a Winter Session," he said, responding to a query on the GST bill which could not be taken up for discussion in the Rajya Sabha amid ruckus by the Congress.

When asked if GST implementation will be delayed in case the bill is passed in the Winter Session, Mani said: "Implementation will be very difficult even though we will overcome that and we will try to bring it into force from April 1, 2016." When asked if concerns raised by various political parties have been addressed in the bill, Mani replied in the affirmative.

"All the parties have agreed. There is a general agreement regarding GST." On Congress stalling the GST Bill in Rajya Sabha, Mani said: "There is no protest against the Bill. Protest is for a different issue." Mani is the Finance Minister in the Congress led United Democratic Front government in Kerala.

On reports that the revenue neutral rate (RNR) under GST may be fixed at 25 per cent, the Committee's Member Secretary Satish Chandra said the Centre has formed a panel for this under the Chairmanship of the Chief Economic Adviser.


It also comprises representatives from states as well as officials from CBEC and other government departments. "So that is looking into it. It is the GST Council which will take a final view.

Unless the rate is indicated by this Committee, what is being published, we should not go by it," Chandra said. Earlier in the day, Mani met Finance Minister Arun Jaitley. "The (Union) Finance Minister said GST is top priority," he told reporters.

Close


Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Aug 11, 2015 07:59 pm
Sections
Follow us on