Rajya Sabha set to approve GST legislation tomorrow

• The Bill to amend the Constitution, paving the way for the biggest, long-pending and much awaited indirect tax reform is all set to be approved by the Rajya Sabha on Wednesday.Union Finance Minister Arun Jaitley will move four amendments to the Constitution (122nd Amendment) Bill, meant for the roll out of the Goods & Services Tax (GST) in the Rajya Sabha on Wednesday, when it is taken up for consideration and passage.

• The planned amendments will seek to withdraw the 1 per cent additional tax proposed earlier, guarantee the States full compensation over a period of five years for any losses from the shift to the new tax and propose a new mechanism for dispute resolution, in which the States will have greater say.

• The government’s decision to move these four amendments have helped to bring the Congress on the same page as far as the Bill is concerned.

• A Rajya Sabha MP from the party said the Congress members in the Upper House will vote in favour of the Bill on Wednesday.