The Good and Services Tax is the biggest indirect tax reform since 1947. The GST bill aims to transform India into a uniform market by subsuming all the indirect taxes and by breaking the current fiscal barrier between states. The GST tax will be levied on manufacture sale and consumption of goods and services. Currently, the indirect tax system in India is complicated with overlapping taxes levied by the Centre and the State separately. With the bill getting passed in Lok Sabha last May, it is stuck up in Rajyasabha where the ruling BJP government is in minority. The article deals with the issues of the bill that makes it stuck in the Rajya Sabha.
Why bill is not getting passed?
The GST is poised to spur the domestic competitiveness; With bill storming both the houses from 2009, and given the fact of great momentum built up over years, it is the right time that all the parties concerned should stop politicising and arrive at a consensus to pass the bill.