Parliament Update | All four bills related to GST passed in LS, Finance Bill passed in RS with amendments
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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)
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Finally Lok Sabha has been adjourned for the day. All the four bills related to GST were passed. The government sailed through thanks to their impressive majority and none of the amendments brought by the opposition MPs got passed.
Voting going on currently. All the amendments moved by the opposition are getting defeated soundly.
Clause wise voting going on in Lok Sabha on GST. It is likely to be a smooth proceeding for the government.
Jaitley explains why who is an agriculturist has been defined. Massive war of words between Moily and Jaitley. FM asks why GST Council will conspire against agriculture sector. He points out that even FMs from Congress states agreed. Jaitley wonders why is such a hue and cry when agriculturist are exempted. Moily isn't too impressed.
Coming to the objection regarding anti-profiteering law, Jaitley says that it merely ensures that any tax break is passed on to the consumer. He wonders what is the problem with that. Jaitley agrees with Moily that real estate should have been part of GST. FM says states had concerns over revenue loss owing to reduction in stamp duty collection. According to Jaitley, GST council has decided that whether real estate and petroleum products would be included in GST, will be discussed later.
FM says that addition of petroleum products in the GST list would have been a deal breaker. FM says some concessions have been made to ensure that all states are on the same page. They are trying to make the process unanimous and not merely going by votes. FM says he hopes that some products which are out of GST purview will come to its fold in the next few years.
Replying to query about GST council's power, FM said GSTcouncil got the power under Art279A to make recommendations to law. Art 246A gives Centre-State power to frame the laws.
Arun Jaitley says that by providing a compensation clause, NDA managed to create political consensus which the UPA failed. Regarding criticism of GST being a money bill, Jaitley challenges the opposition to show any precedence where any taxation provision has not been introduced as Money Bill.
Arun Jaitley replying to Moily that why multiple rates are needed for GST. He says a single rate will be regressive.
He said in GST council, there was unanimous decision regarding planning of multiple rates.
Jaitley says that states who will face loss in revenue will be compensated for the first five years.
Arun Jaitley is now speaking in the Lok Sabha.
He is trying to clarify if GST Council is authority to make laws or the Parliament is?
TMC leaders raising questions about future ramifications of GST. FM says that Constitution clearly divided Centre, State, Concurrent list. No grey area in division of power. Jaitley says that GST council will not undermine the sovereignty of the states.
Rajya Sabha has been adjourned for the day. Discussion on Railway Appropriation bill to continue tomorrow. Lok Sabha in meanwhile is discussing the GST bill.
While opposition MPs are highlighting the possible pitfalls and lacunae, BJP MPs are pointing out how radical it will be.
Voting on Finance Bill has concluded. The amended bill will be sent back to Lok Sabha for consideration.
Lok Sabha is currently discussing the GST bill. In RS, discussion going on about Railways Appropriation Bill.
Rajya Sabha begins discussion on Railways Appropriation Bills.
Sitaram Yechury's amendment on election funding adopted. T Subburami Reddy's amendements rejected by voice vote.
Digvijaya Singh's amendments were cleared by division voting. He made amendments on income tax and charitable organisations,Commissioner's powers and IT raids. They were all adopted by the house.
Finance Bill, as amended, will be returned to Lok Sabha.
Aadhaar discussion to be taken up tomorrow. Railways Appropriation Bills prioritised for discussion today in Rajya Sabha.
Finance Bill, 2017 passed in Rajya Sabha by voice vote.
Finance Bill put to vote.
Sitaram Yechury: Any law to prevent anyone from making Aadhaar public? Arun Jaitley: He can be prosecuted, it is in the Aadhaar Act.
Arun Jaitley concludes his speech in Rajya Sabha.
FM Jaitley on Aadhaar:
- Your firewalls must be strong enough- Aadhaar Bill has provisions about it- Have a better technology.- Not having technology is not the answer.
Hacking can happen anywhere: FM Jaitley
Pentagon got hacked even with Aadhaar being there, you do not need Aadhaar to get hacked: FM Jaitley
How will you protect privacy of bank accounts by linking them to Aadhaar: P Chidambaram
Congress MPs ask government to assure that judicial appointments will be done in consultation with CJI. Finance Minister agrees.
The present bill says either give your Aadhaar number or give a proof that you have applied for it while submitting your tax details: Arun Jaitley
On merging of Tribunals:
Some appointments are made by government, some with CJI. But today work inadequate in many regards and tribunals. You create institutions around multiple tribunals/regulators but no one to take up these positions: Such political appointments will be made with consultations from CJI: Arun Jaitley
Charitable organisations suddenly turn into companies, charity corpus is then misused: FM Jaitley in Rajya Sabha
Opposition questions why political funding has been changed in Finance Bill.
Debating on reason for IT raids, Jaitley says, "If reasons are given, source will be outed. Anyway if court says to give reason, it will be produced."
P Chidambaram asks FM Jaitley to protect source, but give reason to assesses.
Responding to Kapil Sibal's statement, Arun Jaitley said that they are assuming property transactions and election happens only in cheques. Calls it a "wrong hypothesis".
Arun Jaitley speaks about Finance Bill in Rajya Sabha.
"The Finance Minister has forced me to do something that I didn't want to do. He has forced me to get an Aadhaar number," says Jairam Ramesh (INC). He also questioned about duplication of PAN cards, saying there are 17 cr PAN cards in India.
Finance Bill is a bitter pill, Showing Finance Minister's skill in going for the kill: Jairam Ramesh (INC)
Mohd Salim of CPI (M) questions, "I'm not calling this a Frankenstein but are we making a clone of the Parliament with the GST council?"
Digvijaya Singh brings up the issue of Aadhaar details of MS Dhoni being made public in Rajya Sabha.
"Aadhaar Act says info shall not be shared. Then in the Rules, how can you prescribe procedure for voluntary consent?,' asks KTS Tulsi (Nom)
After notebandi, 13 lakh people sent notices. Which made 130 cr new business for CAs. We are moving towards inspector raj: Harivansh (JDU)
Finance Minister Arun Jaitley expected to speak on Finance Bill at 3.30 PM in Rajya Sabha. Stay tuned...
Finance Bill taken up for discussion in Rajya Sabha.
Kalyan Banerjee (AITC): Mamata Banerjee had accepted GST in 2009. West Bengal wanted an integrated tax regime.
Udit Raj (BJP) speaks about BJP.
Rajya Sabha adjourned till 2 PM for lunch.
Discussion on Finance Bill in the next session.