Trinamool Congress today supported the The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 in Lok Sabha that paves the way for Goods and Services Tax. Chief Whip of the party in Lok Sabha, Kalyan Banerjee said the party supports the Bill broadly, while maintaining that the States must receive adequate compensation.
“GST should not be levied on petroleum products. Apprehensions of States must be appropriately addressed,” he argued. Kalyan Banerjee added that States should be treated at par with Centre & should have power to impose sales tax over and above GST on tobacco products.
He also said, “since revenue of States will depend on the inter-State transactions, they should have authority to verify transactions.”