No timeline can be predicted for GST rollout: Jayant Sinha

Indicating the uncertain path of proposed Goods and Services Tax (GST) after the parliament’s winter session ended with members failing to vote for it, Minister of State for Finance, Jayant Sinha has said that it is difficult to predict a timeline for the passage of a bill. He said that “We will have to see how the legislative calendar develops”. 'It's very hard to predict how soon that will happen.”

Sinha further said that the solutions government offered for the three conditions of the Opposition, were reasonable and any party who wants what is good for the nation will agree to what has been suggested.

Though, he asserted that GST is a transaction tax and it can be put in place overnight, adding that  administratively, we are ready to go for April 1, 2016. If indeed the Constitution Amendment Bill is passed in the Budget session, we will have to see, how legislative calendar then develops.

The proposed GST Bill seeks to harmonise state taxes and seeks to replace a slew of federal and state levies. The GST Bill was passed by the Lok Sabha on May 6, 2015, receiving 352 votes for and 37 against. Being a constitution amendment bill, it has to be passed by two third majority in both the houses of Parliament and at least by 50 percent of state legislatures.