NEW DELHI: The NDA government will bring demonetisation bill in the budget session beginning Tuesday to replace the "Specified Bank Notes Cessation of Liabilities Ordinance” which makes holding Rs 500 and Rs1000 notes criminal offence after March 31,2017. The Union Cabinet on December 28 had approved the ordinance on deadline to deposit old notes.
A government note accessed by the Express reveals besides, financial bills and “Specified Bank Notes (Cessation of Liabilities) Bill, 2017, Modi government will also push for 3 supporting legislations in the budget session to implement the major tax reform ‘Goods & Service Tax’. The three key bills are- Central Goods & Service Tax Bill, 2017, Integrated Goods & Service Tax Bill 2017 and the Goods & Services Tax (Compensation for loss of revenue) Bill 2017.
States like West Bengal maintains that there are several vexed issues, which needs to discussed and ironed out before the government rolls out new taxation system. However, the Centre is upbeat about July 1 deadline following some major breakthrough including issue of tax administration was resolved in the recent meeting of GST council, which has state ministers on board as members.
Cashless Payment Top Priority
Another key legislation as highlighted in the government note is the “Payment of Wages (Amendment) Bill, 2017. The NDA government on December 21 had brought an ordinance to amend the payment of wages act allowing employers of certain industries to make payment through electronic transfer and Cheques. The amendment document said is “to enable the appropriate government to specify the industrial or other establishments by notification in official gazette, the employers of which shall pay to every person employed in such industrial or other establishment, the wages either by Cheque or by crediting the wages in his bank account. Presently, the employer is required to obtain the written authorization of the employed person to pay him/her the wages either by Cheque or by crediting the wages in his bank account.”
The government has justified the amendment in wages act arguing that with passage of time and gradually switching over to Digital India, it is imperative to ensure that payment of wages is made only through Cheque or through bank transfer in the bank accounts of employees.
Since the first half of the budget session will end on February 9 with just over a week sittings, the government may pick up very few other legislations. According to the note, government may push for the ‘Enemy Property Bill’ to replace an ordinance. The note said Ministry of Law & Justice has drafted three bills-the Representation of the People (Amendment) Bill, 2017, the Repealing and Amending Bill, 2017 and the Divorce (Amendment) Bill, 2017.
“ It is not yet clear whether the government will take up these legislations in the first half of the budget session or the second half beginning March 8. Ministry of Labour and Ministry of Civil Aviation has also informed the government about two legislations- the Factories Amendment Bill and the Aircraft (Amendment) bill 2017 respectively,” a senior government official said.