Lok Sabha has recently passed a bill to ensure timely execution GST law in Chandigargh’s union territory. This Amendment bill has been created to switch the power of central government to the new levy tax which gets charged for entertainment and amusement. According to Arun Jaitley, the process of correction will continue until the time a place for perfection is reached.
The bill in concern has been introduced in Lok Sabha recently. GST tax has been rolled out on 1st of July. However, the ordinance was brought on 31st July as Parliament was not affect that time.
Arun Jaitley said that once the 1st implementation took place, the government has come to realize the fact that cess had lead to a windfall of money for the cigarette companies. This cess has been fixed by GST. Arun Jaitley assured that the error had been rectified.
While in the discussion, the finance minister also mentioned that he found it wrong to misuse power like the way states had done it. He also said that there are around 17 taxes that have been subsumed in the implementation of GST. Additionally, around 23 cesses are there as well.
N K Premachandran participated in the debate. He said that he was against the ordinance of the legislature route. Santokh Singh Chaudhary from Congress supported the opposition. He said that the GST had been introduced in haste. Going further, he has added that in other countries, where GST is implemented, there is only one tax slab. However, in India where it is being claimed that one nation will pay one tax, there are multiple layers of the tax existing currently.
Additionally, it has been said that the people of the country had been taken for a merry ride. The government only made promises that seemed tall. Sougata Roy from TMC took the discussion further by saying that his party was willing to implement GST. However, the tax law had been implemented in too much hurry. The entire nation is in a chaotic form due to this.
It has been just a month that GST has been introduced. There are many complaints and hiccups are rising due to the tax and its’ rate. Additionally, he said that even though the complaints have been noticed, he still hoped for a moderate tax rate for the country.
This bill has been introduced to replace the Punjab Corporation Law, Amendment 2017.