The Union Minister of State for Finance, J.D. Seelam, on Wednesday reiterated that the Goods and Services Tax (GST) Bill will be placed before Parliament during the ensuing winter session to pave the way for its early implementation.
“There is near-consensus between the Finance Minister and the Chairman of the Empowered Committee of States’ Finance Ministers. We can table it (the Bill) during the winter session,” he told media persons on the sidelines of a meeting with industrialists here today.
The original deadline for the roll-out of the new tax regime was April 2010, but it missed several deadlines in the wake of differences between the Centre and states over issues such as Central sales tax compensation and the structure of the GST.
In July, the Empowered Committee elected Jammu and Kashmir Finance Minister, Abdul Rahim Rather, as its new chairman.
Replying to the various proposed reforms and other measures to push the flagging economy, Seelam said the Government was doing its best, as after two or three months the election atmosphere would set in. “Clearly, we do not have much time,” he said.
He hinted that the Ministry could take some steps to curb import of a few more non-essential items. “Import of items that we can manufacture here has to be curbed to control the current deficit,” he said.
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