(Image source from: GST bill introduced in Parl})
Finance Minister Arun Jaitly introduced Goods and Services Tax bill in Parliament. GST bill aimed at minimizing the financial taxation barriers to the business companies and industries.
Government is keen to pass this reforms initiative bill. States will get considerable loss if it gets passed and made into act. However Fin Min assured them with relative compensation. This news is certainly the best news for private entities that face severe problems by several state level departments.
Trinamul Congress party also backed this reformative bill.
More than half of the Indian state legislatures should give their ratification once it passed in both the houses of parliament with special majority. Otherwise bill goes in vain.
AW: Kannamsai
