The Cabinet today cleared changes in the GST Constitutional Amendment Bill, dropping 1 percent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime.CNBC-TV18 learns that the govenrment doesn't want to lose momentum as far as GST is concerned. The momentum is building in the parliament. The sense is that the government is trying to push the Bill tomorrow itself. If not tomorrow, then next week.
Speaking on the Bill, Rajeev Chandrasekhar, MP, Rajya Sabha said that the government is keen on a consumer-friendly tax. The constitutional amendment is only one step. There are still a lot of logistical issues to be resolved, he added.
Derek O'Brien MP, Trinamool Congress said the ball is in the government's court now. I can only appeal to the Congress and the BJP to stop playing ping-pong.
Renuka Chowdhury, Congress Rajya Sabha MP said the government has made up its mind that it wants to bring in the GST Bill. "We were always willing. The concessions we required were for the states."
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