New Delhi: Finance minister Arun Jaitley on Tuesday said the GST bills are based on the principle of “shared sovereignty” and that the government wants to pass these landmark tax reforms through consensus. Jaitley in detail explained the four bills — Central GST, Integrated GST, Union Territory GST and the Compensation Law — to the MPs and how these legislations would be beneficial, Kumar said. Kumar added that government wants to pass these bills through consensus which was also mentioned by Jaitley in his address. Kumar said the prime minister had earlier said and conveyed to all parties that the government wants to pass GST bill through consensus and these bills will be beneficial for the common man. Yesterday, Jaitley had introduced the 4 GST bills to implement the biggest tax reform since independence.

Source: Mint March 28, 2017 14:03 UTC