Amendment for Goods and Services Tax Bill, widely touted as the biggest tax reform in India’s history has been passed in Lok Sabha on Monday. The bill which was passed unanimously in Rajya Sabha last week has now cleared Lok Sabha, with all 443 members nodding in favour for the historic amendment. However, AIADMK members staged a walk out from the house registering their protest against the bill, claiming that manufacturing states like Tamil Nadu will suffer while consuming states will be benefitted.
Lok Sabha had earlier passed the GST Bill in May 2015 and it was a mere formality for Centre to once again take up the bill for discussion in Rajya Sabha to approve the changes made last week. The bill was passed after six long hours of discussion on Monday evening in Lok Sabha, where Centre has majority. As GST bill is now passed in both the houses of Parliament, it shall be further presented before state assemblies to ratify. At least 16 out of 29 state assemblies are required to give consensus for the bill.
Prime Minister Narendra Modi said that the bill will be crucial to end the tax terrorism in India, adding that the amendment will also reduce the corruption and curb the black money issue in the country, putting the customer in the driving seat. Hailing the bill as “Great Step by Team India“ and “Great Step Towards Transparency” , PM Modi also thanked all the political parties for supporting the bill and the whole process is the success of is not for just Centre, but the success of the democratic ethos of India.