Moving a step further in the implementation of the long pending goods and services tax (GST) bill, a group of central and state government officials set up to frame the law for the proposed GST, has submitted its final draft that could be taken up at a meeting of the empowered committee of state finance ministers in Kolkata on June 14-15. The draft law may be made public after it's deliberated by the empowered panel.
The upcoming Empowered Committee meeting may also discuss issues such as the proposed additional 1 per cent tax on inter-state sales, a proposal that is opposed by Congress. Discussions may also be taken up on the Congress demand of putting the GST rate in the Constitutional (amendment) Bill.
The government is expected to make a renewed push for the passage of the constitutional amendment bill to roll out GST in the upcoming monsoon session of Parliament. This will be the first time that West Bengal Finance Minister Amit Mitra will chair an Empowered Committee meeting after being appointed as the head of this panel in February. There is strong chance of the Constitutional Bill getting Parliament nod in the upcoming monsoon session with Mamata Banerjee backing this reform. After the Bill passage by Parliament, a majority of the State assemblies will have to ratify it for the Constitutional amendment to be a reality.