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GST: All about the midnight session of Parliament

GST: All about the midnight session of Parliament

Former Prime Minister Dr Manmohan Singh will not be at the high table in parliament's Central Hall when the mega reform Goods and Services Tax (GST) is launched at midnight on Friday.

One of the things that is keeping companies occupied ahead of the launch is calculation of input tax credit, which allows them to claim refunds on tax paid on inputs and pay tax on the value adds only.

Urging the opposition parties to "display broad shoulders", he said they should not "disassociate" from the decision they were a party to.

Former prime ministers Manmohan Singh and H D Deve Gowda are expected to be at the session and would be on the podium at the time of the launch according to Finance Minister Arun Jaitley.

While the TMC claimed that the decision to launch GST has been made in haste and on ground level it lacks preparation and understanding, Sitaram Yechury of the CPI (M) said that while he has chose to not attend the session, other members of his party might attend it if they want and no order has been issued to the other MPs of his party. The party said the Bill is incomplete as petroleum, electricity, coal and real estate are out of the GST ambit. Naidu asked: "Is it wrong to work at midnight?" From soft drink makers to automobile firms, companies are busy calculating final consumer price to be charged from July 1.

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Goods and Services Tax launch event will be a starry midnight in the historic Central Hall on June 30 that will have from megastar Amitabh Bachchan to industry doyen Ratan Tata in attendance at the launch of India's most sweeping tax reform.

He said the GST had been conceptualised by the Congress and BJP had stalled its roll out for seven years. He said the GST would be a historical and revolutionary change in taxation laws and benefit the country. A Left leader said all sections are agitating and one can not turn it into an entertainment event when people are suffering.

He, however, claimed that his party is not boycotting the meeting, but has also not issued a whip in the matter. Is it being rolled out without discussion?

"I can say this without fear of contradiction that there has never been such exercise of this kind of political consultation and political consensus in bringing the GST".

The event will be telecast live on Lok Sabha TV and Doordarshan. Barring Jammu and Kashmir, all states have approved the GST.


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