The Finance Minister says GST will see the light
August 25, 2015: Arun Jaitley said that GST(Goods and Services Tax) will soon see the light and the Revenue Department is ready with the three bills to ensure its implementation.
He sees GST as "a monumental tax reform", as it will benefit all the segments of business, increase the tax base and reduce harassment of tax players in the country.
However, The Finance Minister did not disclose that how this bill will get passed as NDA does not have e a majority in the Rajya Sabha, where the bill has stuck.
According to Mr.Jaitley, GST is an idea that everybody supports and in favour of including almost all the states and political parties.
Narendra Modi-led NDA government is eyeing GST rollout from April 2016.
Mr. Jaitley said,"Gst is going to be extremely friendly to the economy and businesses. It can widen the base and reduce the level of harassment. It can add to the country's GDP".