Arun Jaitley introduces GST bills in Parliament

Finance Minister Arun Jaitley introduced the Goods and Services Bills necessary for the implementation of the crucial tax reform by its July 1, 2017 deadline. 

Jaitley introduced the Central GST, Service Tax Bill 2017, Compensation Bill, and the Integrated GST Bill in the Parliament. 

After getting the President's nod to introduce the bills in the Parliament, they were tabled in the Lower House on Monday. 

The Parliament's Budget session will go on till April 1.

The Business Advisory Committee of the Lok Sabha is likely to meet on Monday to decide the duration of the discussion on the Bills. 

Union Parliamentary Affairs Minister Ananth Kumar earlier today said that he hoped that the legislations were passed in the ongoing Budget Session. 

"Hope everyone will support the government on it. The government is committed to ensure the passage of GST in the ongoing Budget session," he said, according to ANI. 

The aforementioned bills have received a go-ahead from the GST Council which is chaired by the FM and the Union Cabinet. 

Apart from these, the amendments to the Excise and Customs Act to abolish various cess and furnishing bills for exports and imports under the GST regime will also be placed before the Parliament.