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.
Congress preparing a dissent note on the issue
Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up
The government said it was willing to advance the upcoming Parliament session.
Raghuram Rajan said the passage of the GST Bill augurs well for the growing political consensus for economic reforms.
One of the the biggest tax reforms since Independence, GST will create a national market for goods and services
The panel might also decide on a new chairman.
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
The government will find it difficult to pass the Bill without the Congress's help
The panel suggested inclusion of alcohol and petroleum products in GST, as is being demanded by the Congress.
Cong leaders speak in two voices but final stand may be decided at a meeting headed by Rahul Gandhi next week
For supply rules, the location decides where goods or services will be taxed.
Jaitley says govt is open to scrapping 1% additional tax on GST
A day after the constitution amendment bill that enabled mega reform Goods and Services Tax Bill or GST was unanimously passed, action continues in Monsoon session of Parliament.
Finance Minister Arun Jaitley appealed to parties to rise above partisan considerations to support it.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
The Constitution should not encumber these choices, specially limiting them to second-best or third-grade options.
The government is keen to get the GST Bill approved during the Monsoon Session of Parliament ending on August 12.
Parliamentary Affairs Minister Ananth Kumar has already held telephonic talks with leader of the opposition in the Upper House Ghulam Nabi Azad.
Accusing the Congress of creating obstacles in the path of growth and economy, he declared that the government would try to get the bill passed with the help of parties
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
States are apprehensive of losing their rights to raise revenue during emergencies.
The S&P BSE Sensex ended down 284 points at 27,698 and the Nifty50 slipped 78 points to settle at 8,545.
With logjam in the Upper House leaving key bills in the limbo, Rajya Sabha chairman Hamid Ansari has called an all-party meeting on Friday.
The Opposition said that the government was 'bull-dozing'.
The list of exempted goods from central excise duty has shrunk from 400 items in 2011-12 to 300 now.
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.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
The state has extended its full support, provided its revenues are protected.
Under the GST regime, most manufactured goods will turn cheaper.
The Bill was introduced in the Lok Sabha in December.
His interaction was webcast live on Twitter.
The Bill has already been passed by the Lok Sabha.
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues
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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.
The Centre and states are likely to settle for this threshold.
Catch all the action from the Monsoon session of Parliament, LIVE
GST rates would depend upon whether the commodity is used by a rich person or a common man
Aimed at creating a single tax for goods and services across the country, government on Friday introduced the long-pending GST Bill in the Lok Sabha for roll-out of the new regime from April 2016 subsuming various levies like entry tax and octroi.
If the new regime is introduced in 2017, the govt may lose out on cess, surcharge
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