New Delhi, August 1 (KNN) The meetings between Central Government and Congress have ended to make consensus on Goods and Services Tax (GST) and the bill is likely to be presented in Rajya Sabha on Wednesday.

Two out of the three conditions raised by Congress has been accepted by the Government. 

The levying of interstate 1 per cent tax, as proposed by the Government has been annulled. 

Similarly, Centre would have to compensate the state completely for a period of five years. 

The third demand of Congress, which demanded the Government to put a constitutional cap on the rate of GST, has been sidelined.

The Central Government wants to pass the bill in the current ongoing monsoon session.

The government is trying to make consensus among all the parties to get the GST Bill passed.

Although, the government wanted to introduce the bill in the House on Tuesday, they met an objection from the Opposition following which the Bill would be tabled in the Upper House on Wednesday.

GST bill was originally introduced in 2011 during the erstwhile government. Despite the attempts of Manmohan Singh regime to pass the legislation, BJP which was then the prime Opposition, along with other regional parties, obstructed the passage of the bill, calling it disastrous for small and medium scale traders. (KNN Bureau)