Lok Sabha passes GST (Goods and Service Tax) Bill

The Lok Sabha passed the GST( Goods and Service Tax) Constitutional Amendment Bill on Wednesday, with Union finance minister Arun Jaitley assuring the states that the Centre would compensate any tax losses suffered by them over the next five years.

Speaking in the Lok Sabha, Jaitley told the members that GST will bring a uniform tax structure across the country, adding that certain products like petroleum and alcohol have been kept out of the purview of the bill and have been kept under the domain of the states.

However, even as the voting for the bill was on, the Congress MP staged a walkout. Ultimately, the bill received the two-third majority needed for it to pass.

The Congress had earlier demanded that the GST Bill should be first referred to the Select Committee before being taken up for passage in the Parliament.

The Bharatiya Janata Party (BJP) had today issued whip to its MPs to be present during the passage of the GST bill in the Lok Sabha.

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