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GST bill will benefit all: FM Arun Jaitley in Lok Sabha

Arun JaitleyNew Delhi: Finance Minister Arun Jaitley moved all the four bills under the Goods and Service Tax (GST) for consideration in Lok Sabha, where a seven-hour debate session is underway to get the final approval from the lower house to pass the bill. The finance minister said that it is important that all the parties reach a consensus before the final arrow is released, so that there is no room for disagreement after the bills have been passed. “12 meetings of the GST council were held to make it a process based on consensus and recommendations,” Jaitley said, adding, “States have pooled in their sovereignty into the GST council, and Centre has done the same.” Speaking on the importance of the bills, Jaitley said that it is a revolutionary bill, which will abolish the issue of cascading tax that has been persistent since the time of Independence. The government has been pushing all the buttons to meet the July 1 deadline to introduce the unified tax bill. He said, “It is a revolutionary bill which will benefit all.” While Jaitley expected total consensus in passing the GST bill in the ongoing session, Congress MP Veerappa Moily has condemned the anti-profiteering clause of GST, and called it “draconian.” “The anti-profiteering clause of GST is far too draconian,” said Moily. Rubbishing Jaitley and the government’s stance on GST, the Member of Parliament, said, “What you have brought is not a game changer but only a baby step.” “This is a very serious matter, just don’t take shelter under constitutional amendment,” Moily added. The government has time and again stressed on the importance of the GST bills, but there has been a notion of dissatisfaction among the opposition. Jaitley has left no stone unturned to reach a consensus with the opposed lot, as was witnessed when the GST launch bill was passed.

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