Parliamentary panel approves GST with amendments

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Parliamentary panel approves GST with amendments
A Parliamentary panel has given the approval to the legislation to expedite implementation of Goods and Services Tax (GST) while suggesting amendments to provisions relating to tax structure and dispute resolution mechanism among others, said a report from PTI.

The standing committee on finance presided by Yashwant Sinha said the GST Bill should not include specific aspects relating to tax rates, exemptions, exclusions, thresholds, administrative arrangements etc.

"What should be included in the laws and rules should not form part of the Constitution of India. The present bill relating to GST, in the Committee's view, has not been well drafted from this perspective and therefore require amendments as suggested...", it said.

According to the media reports, the GST dispute settlement authority, the Committee suggested that the proposal should be omitted and the GST Council be empowered to deal with differences among stake holders.

Dion Global Solutions Ltd.

Read more about: gst
Story first published: Thursday, August 8, 2013, 9:30 [IST]
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