But that's not all. As PRS Legislative Research notes, there are at least 10 Bills, including the GST Bill, that are of direct interest to the corporate sector. The agenda for the current session includes 19 Bills currently pending in Parliament for consideration, and passage and introduction of 14 new Bills.
Here are the 10 Bills that are of interest to the business community:
1. The Constitution (122nd Amendment) (GST) Bill, 2014 to introduce the Goods and Services Tax to give concurrent taxing powers to both the centre and states, and to create a Goods and Services Tax Council.
2. The Real Estate (Regulation and Development) BilI, 2013 to regulate transactions between buyers and promoters of real estate projects and set up state level Regulatory Authorities to regulate the sector.
3. The Electricity (Amendment) Bill, 2014 to segregate the distribution network from the electricity supply business and introduce multiple supply licensees.
4. The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015 to enable the creation of commercial divisions and commercial appellate divisions in high courts, and commercial courts at the district level.
5. The Prevention of Corruption (Amendment) Bill, 2013 to make the giving of a bribe an offence for individuals and commercial organisations, and enlarge the definition of taking a bribe.
6. The Whistle Blowers Protection (Amendment) Bill, 2015 to specify grounds under which public interest disclosures may not be made.
7. The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2015 to increase the allowance for investment in plants and machinery in micro, small and medium enterprises engaged in manufacture or services.
8. The Bureau of Indian Standards Bill, 2015 to replace the Bureau of Indian Standards Act, 1986 and establish BIS as the national standards body and address mandatory standardisation of products.
9. The Negotiable Instruments (Amendment) Bill, 2015 to specify the territorial jurisdiction of courts for filing cases of cheque bouncing.
10. The Arbitration and Conciliation (Amendment) Bill, 2015 to replace an Ordinance, to make the process of arbitration simpler and ensure timely disposal of cases.
OTHER BILLS LISTED FOR PASSAGE: