Today in the Rajya Sabha session on GST, main opposition Congress and most other parties, except AIADMK, expressed support, with certain conditions, to the introduction of GST in the country as the Rajya Sabha took up the much-delayed bill to amend the Constitution for allowing the measure.
Moving the Constitution (122nd Amendment) Bill, 2014 amid thumping of desks by the entire House, Finance Minister Arun Jaitley said it was one of the most significant tax reforms in India in recent history that has been brought after a “broad consensus” with various political parties.
The bill was supported by Congress and most of the other parties like Samajwadi Party, (JDU) and Trinamool Congress. AIADMK, however, opposed the move.
Tamil Nadu is a manufacturing state & because of GST it will lose Rs 9270 crore said A Navneethakrishnan, AIADMK while keeping his point for not supporting GST.
“GST violates states’ autonomy on revenue matters”, Navneethakrishnan further added.
AIADMK plays a crucial role in the Rajya Sabha with its share of 13 members. The major concerns regarding the GST are about the impact on the fiscal autonomy of the states and the huge permanent revenue loss.
The GST is intended to be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the central and state governments.
“I am sure the enactment of GST will bring about the best economic management in its federal form,” Union Finance Minister Arun Jaitley said while commending the bill for consideration.
The GST Bill has been hanging fire in the Rajya Sabha for a long time due to stiff opposition from the Congress.