GST crosses last hurdle; Bill gets passed in Rajya Sabha

GST bill to be tabled in Rajya Sabha today

There will be cap rate of 40 per cent, Jaitley said.

Jaitley added that the government was still looking at July 1 as the roll out date for the new indirect tax regime. He said, the work on fixing rates has started and GST council will take final decision next month.

He also questioned whether the "delivery" would be effective under the new regime since adequate infrastructure is not in place.

He said the small businessmen who commit offences in their business dealings should be given relaxation in the first year of the GST implementation.

Union Finance Minister Arun Jaitley said in the Rajya Sabha that he is not hesitant to admit that the GST Bill is not one for which one person or one government should take credit. "The beedi industry does not need any more concessions but heavy sanctions", he said about the "cottage industry".

Comedian Louis C.K. calls Trump a 'lying sack of s
He joked that if Trump walked into a room and said that he was walking before C.K.'s very eyes, he wouldn't believe it. He said that he doesn't think of Trump as lying to him or other people who knew he wasn't telling the truth.

He pressed for constructive cooperation between the Centre and the states in resolving outstanding issues. "Therefore, as the GST experiment succeeds, hopefully, one-day petroleum will come into it", he said.

Now food articles are not taxed and those will continue to be zero rated under the GST. The Congress' top leadership discussed the issue at length and decided not to press or move any amendments in the four GST enabling bills.

It would depend on the government, Tharoor said, hoping that the NDA would not be using its "brute majority" to push legislations.

"The moment we set this practice, we can forget GST.Let us not unilaterally upset the federal arrangement. The management structure created has to face penal consequences if any information is leaked", he said.

The Centre owns 24.5 per cent stake in GSTN, state governments own another 24.5 per cent, while the HDFC, NSE Strategic Investment Corporation, HDFC Bank and ICICI Bank own 10 per cent each.

High-flying Hoffenheim deals Bayern its 2nd Bundesliga loss
Bremen took a first-half lead when Zlatko Junuzovic's superb long ball was headed in by defender Theodor Gebre Selassie. Hoffenheim boss Julian Nagelsmann has described the euphoric feeling of beating Bayern Munich as being "like a drug".

Life Insurance Corporation Finance holds an 11 percent stake in the GSTN, according to the Registrar of Companies filings, obtained by IANS from business research platform Tofler.

Both houses of parliament saw fewer adjournments than the last few sessions, and more constructive debate.

The GST Bills will now require the President's approval.

He said the GSTN has been designed in such a manner that it can not be audited by CAG and RTI too does not apply to it. While it had introduced the bills as money bills, which meant that the Upper House could not shoot them down, any amendment would have led to some sort of embarrassment for it.

Interestingly, Congress MP Jairam Ramesh didn't move any amendments on GST bill saying he was advised against it by former PM Manmohan Singh.

Malegaon, four other cities in Maharashtra among ten hottest places in India
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