Experts share their views on the steps that will help businesses become GST-ready.
The S&P BSE Sensex dipped 90 points to end at 27,747, after hitting an intra-day high of 28,014.
GST Bill needs a two-thirds majority in each House.
In a major reach-out to the main Opposition, the prime minister invited Gandhi and Singh over tea at his Race Course Road residence around 7 pm.
Since the legal changes in the draft laws would take some time, it was decided to postpone the November 25 meeting
Finance Minister Arun Jaitley on Wednesday said the country is on an "upward curve" and a good monsoon, GST passage and increased infra and rural spending will further accelerate the growth.
On the eve of Winter session of Parliament, Rahul Gandhi on Wednesday said that the Congress "strongly" believed that the government should reach out to the Opposition on certain issues.
On the agenda during the session will be getting the Land Acquisition Bill, GST and other important bills passed.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
Rajya Sabha witnessed heated exchanges between the treasury and opposition benches after Congress leader Mallikarjun Kharge made remarks on the manner in which political parties select women candidates from weaker sections and raised the issue of 'delayed' GST payments to non-Bharatiya Janata Party ruled states.
Lack of visibility on rates makes companies apprehensive.
Catch all the latest action from the Lok Sabha and Rajya Sabha here.
Soon after the panel vice chairman Sasmit Patra called for the start of the discussion amid slogan shouting, leaders of various opposition parties took to raising points of order frequently to get the discussion stalled.
He will succeed Kerala Finance Minister K M Mani.
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.
Government originally planned to roll out GST from April 1 last year, but a consensus could not be reached on the introduction of the Bill.
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.
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
Congress preparing a dissent note on the issue
The Council also discussed process to make return filing simpler with just one return to be filed every month.
Early GST rollout to help create more jobs, boost output, says IMF.
Prime Minister Narendra Modi hit out at the Congress for "misusing" Parliament to stop the country's growth and hailed Samajwadi Party chief Mulayam Singh Yadav for "understanding this conspiracy" and working to end the logjam in the House.
Top Congress sources said they would not hold up the Bill.
With less than five months left for the report of the Fifteenth Finance Commission to be submitted, its chairman N K Singh said the report will have fiscal road map for states, depending on their current situation.
The GST will alter the very face of fiscal federalism in India.
It will reduce compliance cost as the assessee will not have to maintain multiple records for a variety of taxes
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
According to reports, eight hours have been allocated by the speaker for discussion on the tax reform bill.
The Opposition said that the government was 'bull-dozing'.
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
The Modi government could steer through Parliament 59 out of 75 Bills.
Under the GST regime, most manufactured goods will turn cheaper.
Opposition does not stall legislative agenda; Upper House passes two bills.
The largest challenge for the gigantic exercise between the Centre and the 29 states was to keep the latter interested over the years.
Monsoon session of Parliament expected to be stormy and likelihood of GST Bill and Land Bill getting passed are slim
The recent surgical strikes in Pakistan-occupied Kashmir are expected to grab limelight during the month-long session. Some parties have alleged that the government is trying to politicise it.
Macro and micro environment are becoming more challenging.
As many as 30 sub-groups and committees worked tirelessly to devise rules and laws as well as fix tax rates for over 1,200 goods and services.
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