With the Lok Sabha passing the Goods and Services Tax (GST) Bill today, the Congress has expressed its disappointment calling the development as a violation of the Constitution.
"It is not at all convincing because the law should be made by the Parliament. First time this has been abrogated. This is absolutely in the violation of the provisions of the Constitution," Congress leader Veerappa Moily said.
He added that the Bharatiya Janata Party (BJP) has totally misled the House.
"I don't know whether they have understood the implication of what they have done today. Ultimately in future, no taxation law will come before the Parliament for passing," he said.
He further said the Congress has always supported the passing of the bill, but the method in which it has been passed is not welcomed.
Also Read
"This can lead to a financial anarchy in the country," Moily said.
However, Civil Aviation Minister Jayant Sinha said it is a historic and revolutionary step taken, keeping in mind the economy's welfare.
"The profit we are going to receive through this bill will benefit the entire country," he told ANI.
"First of all, inflation will be controlled, secondly businessmen will feel more comfortable in carrying out their duties, thirdly manufacturing companies that are facing trouble in supply they will get a smooth experience and fourth, tax base will rise through which we will provide the public with better facilities," he said.
The Rajya Sabha on Wednesday passed the Finance Bill after various amendments presented by Union Finance Minister Arun Jaitley.
"As far as benefits are concerned, you can produce Aadhar. If you don't have one, you can produce other ID and simultaneously apply for it," said Jaitley.
He further said that the Government will issue electoral bonds.
"There are lot of wild information going around over the authority of assessment officers over search and seizure," added Jaitley.
"Let me clarify this under section 132, a satisfaction note must be submitted before search and entering premise and that has to be submitted in the court," he added while notifying that the Finance Bill protects the source of information for tax evasion.
Earlier, Jaitley moved four Goods and Services Tax (GST) Bills for consideration and passage in the Lok Sabha, which then took them up for discussion. The Central Goods and Services Tax (CGST) Bill, 2017, along with three other GST Bills were moved for consideration in the lower house.
Disclaimer: No Business Standard Journalist was involved in creation of this content
