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| Edited By: DNA Web Team |Source: DNA webdesk |Updated: Mar 29, 2017, 08:57 PM IST
After a rocky day in Rajya Sabha on Tuesday, the Finance Bill with five amendments was passed by the Upper House on Wednesday. In Lok Sabha, all four GST bills were passed. Amendments brought by the opposition were soundly defeated in the Lower House.
Delay in filling up of vacancies in statutory commissions for SCs, STs, Backward Classes and Minorities rocked proceedings of Rajya Sabha for the second day on Tuesday. Congress, SP, BSP and JD-U members repeatedly trooped into the Well of the House shouting slogans against the government for "misleading" by telling "lies" on the issue.
In Lok Sabha, discussion took place on Goods and Services Tax (GST) Bill. Union Finance Minister Arun Jaitley called GST Bill revolutionary, saying it will benefit all with the free movement of goods across the country. "We are keeping two standard rates of 12% and 18% and provided for a cess for five years to fund compensation," said Jaitley while announcing usage of a cess on luxury, sin goods for GST compensation. "Aim of GST Council is to decide everything with consensus," said Jaitley.
"CGST Law shall apply to the whole of India except the State of Jammu and Kashmir," he said while mentioning that the GST Council met 12 times till date.
Earlier, the bills introduced in Lok Sabha included Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the Bill for Compensation to States, which were cleared by the GST Council.
(With ANI inputs)
