Patna: A consensus on Goods and Service Tax (GST) would be arrived at soon by the Centre and the states, State Finance Ministers empowered committee chairman and Bihar Deputy Chief Minister Sushil Kumar Modi said on Saturday.

The consensus on the provisions of GST would clear the decks for its roll out, Modi told Godrej group chairman Adi Godrej during a meeting here.

He apprised Godrej, who is also CII President, rpt Godrej, who is also CII President that Parliamentary Standing Committee on Finance Chairman Yashwant Sinha had said that the committee would submit a report to the Centre on GST ahead of the monsoon session after hearing the views of the states and the Centre on the issue from June 12.

The Empowered Committee of the State Finance Ministers will also put out its views before the Parliamentary Standing Committee on Finance.

GST, he said, would be the biggest reform since Independence and would result in two per cent increase in the country's GDP.

On Godrej's remark that industry was eagerly awaiting GST roll out, Modi said the empowered committee too was keen on successful implementation of the tax measure.

Godrej lauded the NDA government for ushering in a positive atmosphere in Bihar that would boost industrial development and said the high growth rate attained by the state was reflective of the state government's commitment for all round development.

He said CII will organize a conclave of industrialists in several cities to encourage them to invest in Bihar and contribute to its industrial development.

The Godrej group would invest Rs 60 crore in a fodder unit and asked the government to make the single window system more effective so that the investors could get the various clearances for their projects from one place.


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