"The finance minister in detail briefed the party MPs about all the four Goods and Service (GST) bills and said these legislations are based on the principle of shared sovereignty", Kumar said, adding they were drafted after detailed discussions in the GST council which comprises all states. "It can not take away the powers of the legislature", Moily said adding that as per the current wordings of the bill, only the GST council and the Central government matter.
Once these Bills are cleared by Parliament, the states will then take the state GST (S-GST) Bill to their respective assemblies.
The parliament also approved GST Bill related to compensation, according to a Bloomberg report.
The passage of these bills will pave the way for implementation of GST from 1 July 2017.
On Saturday, Jaitley had emphasised the urgency to pass the GST laws during the current session of Parliament, saying the Centre and the states will otherwise lose their right to collect indirect taxes after September 15.
The CGST Bill will enable collection of tax on inter-state supply of goods and services or both by the union government.
It would consist of a four-tier tax structure of 5, 12, 18 and 28 percent, though there would be a provision to set the peak rate at 40 percent to deal with any financial emergencies. The Parliament is likely to have nearly a seven-hour long discussion on the GST, which was started around 12 o' clock in Lok Sabha and is expected to countinue late evening. But the Council has two-thirds voting by the States and one-third by the Centre. With the passage of GST bills, it will be one nation, one tax and it will give a big boost to GDP.
"The States and the Centre have pooled their sovereignty in the Council", Union Finance Minister Arun Jaitley said in reply to the objections. During his speech, Union Finance Minister Arun Jaitley said, "We seem to be on time..." The IGST will be a tax on inter-state movement of goods and services. Not a great reform which will be a gamechanger, said Moily.
The Finance Minister said that luxury goods or sin commodities, which have adverse effect on health will call for approximately the same effective taxation rate. "New Year, New Law, New Bharat", he said in a tweet in Hindi soon after the legislations were passed. The officials, while deciding on these rates, will also need to keep in mind possible inflation and consumer interests, as a product attracting lower rate (of say 8%) should not be fitted in the 28% bracket.
Many were expecting them to also bring the fight to Mercedes yet the team seems to have regressed compared to past year . Fans should delight in this news, as the season past year was completely dominated by Mercedes.
Gary Herbert said today that he will sign a controversial bill to make Utah's laws on drunken driving the toughest in the nation. The governors say they support the plan's more flexible Medicaid program and phased-in transition from Obama's law.
In a recent poll, 51% of Canadians said they supported legalizing marijuana, and 33% said they opposed it. And if the report is accurate, that means cannabis will be legal by Canada Day next year - that's July 1.
Its recommendation to healthcare providers is to continue to proved patients with breast implants with "routine care and support". Women who already have implants should continue with routine care and follow-up, as advised by their healthcare providers.
Navalny said Russians would keep protesting for "as long as people see tens of billions of dollars being stolen by top officials". He added that the Kremlin "cannot respect those who deliberately mislead people and who instigated unlawful actions yesterday".
Asked whether he believed the transition team had been spied on, Nunes said: "It all depends on one's definition of spying". Nunes said he alerted House Speaker Paul Ryan about the collection and is traveling to the White House Wednesday afternoon.
Cleanopolis VR This educational title is primarily for kids but it doesn't mean that people of all ages won't be able to enjoy it. House of Terror VR This game gives you the chance to explore a haunted house full of monsters, traps, and very hard puzzles.
Does President Trump prefer iPhone or Android? He has his personal Twitter account , as well as the official POTUS account . Last night, we finally got an answer of sorts: Donald Trump is, in fact, tweeting from an iPhone.
It will be interesting to see how fans in Oakland react to this news with regard to their season tickets and attendance at games. Hockey has already been present in Vegas, with the ECHL's Las Vegas Wranglers calling the city home for a number of seasons.
Oil ministers from OPEC and some non-OPEC states meet on Sunday in Kuwait, where they are expected to discuss compliance. USA oil drillers boosted the rig count to 631 last week, the most since September 2015, Baker Hughes data show.
MARD tells court ready to resume work if ensured security
The brutal assault on Dr Rohan Mamorkar, a resident doctor at Dhule Civil Hospital on 14 March, is what sparked this whole mess. Patients in several other government hospitals such as Lal Bahadur Sastri Hospital, Dadadev Mother and Child Hospital and G.B.