New Delhi, Mar 28 (PTI) Finance Minister Arun Jaitley today briefed lawmakers about the four GST bills introduced in Lok Sabha which will be taken up for consideration tomorrow.

Jaitley told MPs that the passage of these bills, which were introduced in the Lower House yesterday, will result in one-nation one-tax regime, Parliamentary Affairs Minister Ananth Kumar told reporters after the meeting.

The Finance Minister explained in detail the four bills--Central GST, Integrated GST,Union Territory GST and the Compensation Law--to MPs and how they would be beneficial to the common man.

Prime Minister Narendra Modi had earlier said that the government wants to build consensus for the passage of these bills.

Modi was also present in the meeting.

Former Karnataka Chief Minister S M Krishna was also present in the meeting and he formally joined the BJP in presence of Modi and party chief Amit Shah.

During the meet, Congress leader and former Union Minister M V Rajasekharan's letter showering praise on the Prime Minister was discussed.

They also discussed the Union Cabinet's decision approving the setting up a National Commission for Socially and Educationally Backward Classes with constitutional status.

The Cabinet had also cleared a proposal for dissolving the National Commission for Backward classes and repealing the law under which it was established.

Goods and Services Tax reform aims to create a single national tax framework, subject to parliamentary consideration and consensus-building. Four statutes were introduced to create a unified Goods and Services Tax framework: the Central GST, Integrated GST, Union Territory GST and the Compensation Law, with the Finance Minister briefing legislators on their design, public benefits, and the objective of implementing a one-nation one-tax regime while seeking consensus for parliamentary consideration.