Bengaluru:
Prime Minister Narendra Modi on Tuesday expressed the hope that Goods and Services Tax (GST) will be rolled out next year.
Addressing Indian and German business leaders here, Modi said, “We have introduced GST bill in Parliament and hope to roll it out in 2016.”
The Bill has already been approved by the Lok Sabha and is pending in the Rajya Sabha, where the ruling NDA does not have a majority.
After its approval by Parliament, half of the state legislatures too need to approve the Constitutional Amendment Bill to bring a GST as a replacement to all indirect taxes.
Modi said the government has taken decisive steps to remove long pending concerns of investors.
