GST will become a reality soon
• Jaitley hopes that the opposition parties will see reason and pass GST Bill.
• GST will subsume all indirect taxes into one uniform rate.
• Congress has suggested three changes.
“GST has been supported by most political parties and I am sure others will also see reason and this law will become a reality very soon,” the minister said while inaugurating the two-day India Investment Summit here.
He said the government is also working on streamlining the direct taxation system.
“We want to rationalize our direct tax system in order to make it one of the most competitive regimes in the world comparable with what competitive economies elsewhere have,” Jaitley added.
Budget Session of Parliament commences on February 23. While the first part of the session will end on March 16, the second part will be take place from April 25 to May 13.