Rajya Sabha Select Committee Report
The Rajya Sabha Select Committee submitted its report to the House on 22/07/2015 with dissent notes from the Congress, Left parties and AIADMK
Will Congress play spoilsport
The monsoon session of the Parliament is convened on 21st July 2015 and would last for three weeks.
It is reported that the Select Committee of Rajya Sabha would have a final sitting on 20th July 2015 to finalise the report which is expected to be presented by 24th July,2015. As and when the report is available in the pubic domain we shall present the summary and our analysis.
Reports suggest that the Government is firm on retaining the 1% non creditable additional tax on interstate supply of goods. This is a major bone of contention for the Congress party. It is also reported that the Congress wants the RNR of CGST+SGST be pegged at 18% in the Constitution Amendment Bill. It is reported that Congress may submit a dissent note.
Let us hope that the Government would sagaciously handle the political issues and go the extra mile to accommodate the dissidents to ensure implementation.
GST Network
GST Network chairman Navin Kumar said at a interactive session organised by FICCI five bids have been received for building the GSTN system and that the contract would be finalized by the end of next month.
The registration module is expected to be ready by January 31,2016 and the payments and return module would be ready by 31st March 2016.
Well, it would be a tall order to build the GSTN network in 6 months.
GST – What is Amiss … So close, yet so far!
Our Editor Sridharan deliberates on some of the issues in the Constitution Amendment Bill and challenges in implementing GST from 1st April, 2016. Sridharan opines that considering the enormity of the reform, April 1, 2016 deadline is not sacrosanct.
Click to view - GST – What is Amiss … So close, yet so far!
Date : 17th July, 2015.