The government will introduce the long-awaited goods and services tax (GST) constitutional amendment bill in parliament next week, a minister said on Friday, as almost all political parties have agreed on the proposed law.
The GST bill will be introduced in Rajya Sabha next week, Junior Parliamentary Affairs Minister Mukhtar Abbas Naqvi told lawmakers.
The proposed tax reform, the biggest since India’s independence from Britain in 1947, seeks to replace a slew of federal taxes and levies in 29 states, transforming the nation of near 1.3 billion people into a customs union.
Analysts say the move could boost India’s economic growth by up to 2 percentage points.
[Source:- Reuters]
