On Tuesday, the Lok Sabha passed the Finance Bill, 2023, amid opposition demands for a Joint Parliamentary Committee (JPC) probe into the alleged irregularities in the implementation of the Goods and Services Tax (GST).
The bill was passed by a voice vote after a discussion that lasted for over four hours. During the discussion, the opposition parties raised several issues, including the alleged irregularities in the implementation of the GST, the rising fuel prices, and the government’s handling of the COVID-19 pandemic.
The opposition parties, including the Congress, the Trinamool Congress, and the DMK, demanded a JPC probe into the alleged irregularities in the implementation of the GST. They alleged that the government had failed to address the issues related to the GST and had not taken any action against those responsible for the irregularities.
The government, however, rejected the demand for a JPC probe and said that the GST Council, which is a body of state finance ministers, was the appropriate forum to address the issues related to the GST.
The Finance Bill, 2023, seeks to amend the Income Tax Act, 1961, and the Customs Act, 1962, among other laws. It also seeks to introduce several new tax measures, including a new tax regime for individuals and companies, and a new tax on digital services.
The bill was passed after a discussion that saw heated exchanges between the government and the opposition. The opposition parties accused the government of not doing enough to address the issues related to the GST and the rising fuel prices.
The government, however, defended its record and said that it had taken several steps to address the issues related to the GST and the fuel prices. It also said that the GST Council had taken several decisions to address the issues related to the GST.
The Finance Bill, 2023, will now be sent to the Rajya Sabha for its approval. The government is expected to pass the bill in the upper house as well.