Hope to roll out GST next year: Modi - Prime Minister Narendra Modi o- Navbharat Times Photodhamal

1/16

Prime Minister Narendra Modi on Tuesday expressed the hope that Goods and Services Tax (GST) will be rolled out next year.

In This Pic : Narendra Modi

Pic Courtesy : PTI

2/16

Addressing Indian and German business leaders, Modi said, "We have introduced GST bill in Parliament and hope to roll it out in 2016."

In This Pic : Narendra Modi, Angela Merkel

Pic Courtesy : PTI

3/16

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.

In This Pic : Angela Merkel

Pic Courtesy : PTI

4/16

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.

In This Pic : Narendra Modi

Pic Courtesy : PTI

5/16

Modi said the government has taken decisive steps to remove long pending concerns of investors. "We have clearly articulated that we will not resort to retrospective taxation."

In This Pic : Narendra Modi, Angela Merkel

Pic Courtesy : PTI