Top Congress sources said they would not hold up the Bill.
According to the draft, in the northeastern states the threshold is at Rs 500,000.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
Negotiations near deadlock, as states oppose Constitution Amendment Bill.
Projects worth Rs 500 crore and above and up to Rs 1,000 crore can be cleared by the Finance Minister.
In its election manifesto -- 'Sankalp Patra' -- the Bharatiya Janata Party has vowed to implement the Union Civil Code (UCC), maintain peace in the Northeast, among other key poll promises.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
The meeting has been called as the Finance Minister P Chidambaram did not extend a March 31 deadline for the trusts to get regular tax exemption through the Employees' Provident Fund Organisation.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
States also demanded that Budget for 2015-16 should make adequate provisions for central sales tax compensation for early roll out of Goods and Services Tax, a Constitutional Amendment Bill for which was tabled in the Lok Sabha last week.
At present, the EPF subscribers are exempted from paying income tax on deposits.
After securing Congress support for a rise in the foreign investment cap in the insurance Bill, this is another key reform Bill where the Centre has managed a broad consensus.
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The GST Bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. Now, the states and the Centre would together finalise the draft and bring it back to Parliament.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
'Interim Budget has ignited the entrepreneurial spirit.'
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
GST reform has been hanging fire since 2006-07.
The need for finding options for proper functioning of Parliament is of paramount importance as the frequency of the passage of Budgets and other economic Bills without discussion or debate has only increased in the last few years, notes A K Bhattacharya.
Finance Minister Arun Jaitley, who is meeting state finance ministers on Thursday to garner support for the Constitution Amendment Bill for a goods & services tax (GST), is likely to immediately dole out about Rs 13,000 crore (Rs 130 billion) in Central Sales Tax (CST) compensation to states.
Even though the NIA claims that more than 90 per cent of cases charge-sheeted have ended in conviction, the figure is likely misleading. To date, very few cases investigated by the NIA have resulted in a completed trial, points out former CBI joint director Navneet Rajan Wasan.
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
According to Mitra, items such as foodgrain, vegetables, leather goods, footwear, cottage cheese, puffed and flattened rice, books and entertainment tax, among several others, should be in the zero-tax bracket.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
State finance ministers' panel to decide on latest attempt at harmonising of views on Constitution amendment.
'He will go to any extent, and he will have the full support of the Union government as they may not like a Left government to continue here.'
The disagreement between the Centre and states continued over administrative powers.
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
The empowered committee of state fnance ministers had recommended to the finance ministry that the Centre should provide direct budgetary support and transfer more services to states on account of the rate cut, sources said. States have refused to hike the value-added tax rate on more than 250 items like drugs, agricultural and industrial inputs from 4 per cent to 5 per cent to make up for revenue loss.
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
Arun Jaitley said he would put the DTC Bill in cold storage.
The FAQ also clarified that companies, including Titan, which supplies watches and jewels through their own websites will not be considered as e-commerce operators
The Central Bureau of Investigation had called Karti for questioning on Thursday in connection with the foreign investment clearance given in the Aircel-Maxis deal in 2006 when his father Chidambaram was the finance minister.
Jaitley said the Congress may be upset with the government for 'political reasons'
"As FM, I granted approval in the normal course of business," he said in a statement.
Under the GST regime, most manufactured goods will turn cheaper.
Karti, through his lawyer, has refused to appear before the agency saying a special court had discharged all the accused in the matter.
With a high-powered ministerial panel on fuel pricing being scrapped, a cabinet committee may consider raising the prices of diesel, LPG and kerosene, Oil Minister S Jaipal Reddy indicated on Wednesday but refused to say when the issue would be taken up.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
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