India’s Jaitley expects progress on landmark tax bill in April-May
NEW DELHI – India’s Finance Minister Arun Jaitley said on Sunday he expects lawmakers to make progress on a goods and services tax bill and a bankruptcy law in the second part of parliament’s budget session that runs from April 25 to May 13.
Jaitley said the government was also working towards bringing the tax regime at par with global levels.”What is work in progress still is that we are trying to easen the environment for people doing business in India,” Jaitley said, addressing the final leg of an International Monetary Fund event in New Delhi.
The proposed Goods and Services Tax (GST) bill would pave the way for a single market for goods in India for the first time.
The bankruptcy law is aimed at unifying and overhauling rules governing the liquidation or revival of ailing companies into a single code and for the first time imposing deadlines. -Reuters