GST on fast track, Cabinet may take up the bill today itself

Moving swiftly after taking on board the states, the finance ministry is likely to place before the cabinet today itself a firm proposal on the contours of the goods and services tax ( GST).

The proposal will include changes in the constitutional amendment bill reflecting the consensus on the key issues such as keeping tax rate out of the constitution, dropping the 1% inter-state tax and clear provision for compensation to the states.

The fast paced developments suggest the government is keen to get the bill passed in the Rajya Sabha in the ongoing budget session to ensure that this reform is implemented from April 1, 2017.

Five hours have already been set aside to debate the issue. The bill could be taken up for the discussion next week. The government is confident of Congress support for the bill.