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Parliament panel backs GST - sources

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Reuters NEW DELHI
Last Updated : Jul 20 2015 | 5:48 PM IST

NEW DELHI (Reuters) - A parliament committee has approved broad provisions of a goods and services tax (GST) bill, three members of the panel said on Monday, increasing the odds for its passage in the full house.

The MPs declined to be named as the report has yet to be discussed by parliament.

The GST bill seeks to transform the country into a common market, harmonising a slew of state and central levies into a national sales tax.

The government is keen to get the bill passed by parliament at its session beginning on Tuesday.

Finance Minister Arun Jaitley has called the new tax the biggest reform since independence in 1947 that could add as much as 2 percentage points to the growth of Asia's third-largest economy.

(Reporting by Nigam Prusty; Writing by Rajesh Kumar singh; Editing by Sanjeev Miglani)

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First Published: Jul 20 2015 | 5:32 PM IST

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