Parliament passes GST Bill

Parliament on Monday cleared the GST Constitution Bill which Prime Minister Narendra Modi said was “crucial” to end tax terrorism, reduce corruption, and check black money.

After a debate lasting six hours, the Lok Sabha okayed the Bill with 443 members voting for it and AIADMK members staging a walkout while opposing the measure. Modi thanked all parties for their support to the legislation. The Lok Sabha approved the changes in the Bill the Rajya Sabha had made last week while passing it.

The Bill reflected the “maturity” of Indian democracy, said, calling it as a “great step by team India” to transform the economy, usher in transparency, and introduce the system of “one country, one tax.”

Finance Minister Arun Jaitley promised that the tax rate under the GST regime will be the “minimum workable rate.”