ASSOCHAM seeks political consensus in RS on GST bill
MANGALURU: Amidst positive indications for a consensus building among the major political parties, including the Congress, the ASSOCHAM has made a strong plea both to the government as also the principal opposition party to get the long pending Constitutional Amendment Bill on GST passed in the Rajya Sabha within first few days of the Monsoon session of Parliament, beginning July 18.
“At this point of time when the macro-economic risks like rebound in inflation both at the CPI and WPI barometers and continuing slowdown in the industrial growth along with global geo-political headwinds are rising, the passage of the GST Bill can be a strong anti-dote for any such negative new flow, ASSOCHAM said.
While the implementation of the law would still be far away, since ratification of at least half of the state assemblies would be required, the main hurdle remains in the Rajya Sabha where the composition of the House strength is fractured, making it imperative for a wider political consensus on the issue.
“The good part is that Congress Party has been showing inclination to come on board. We appeal to the principal Opposition to leave aside its wider political difference with the government and support the most important tax reform for the country. The GST alone can add to the Gross Domestic Product by at least 1.5 percentage points, ASSOCHAM said.
-source:- http://timesofindia.indiatimes. com/business/india-business/ASSOCHAM-seeks-political-consensus-in-RS-on-GST-bill/articleshow/53249916.cms