Home » national news » BJP-led Assam becomes first state to ratify GST Constitution Amendment Bill
 
SPEED NEWS

BJP-led Assam becomes first state to ratify GST Constitution Amendment Bill

Speed News Desk | Updated on: 12 August 2016, 14:00 IST

Assam, which has a BJP government led by Sarbananda Sonowal, became the first state to ratify the Constitution Amendment Bill on Goods and Service Tax (GST). On 12 August, the Assam Assembly unanimously passed the Constitution Amendment Bill on GST, which is the most important indirect tax reform since Independence.

"Assam will be remembered as the first state in the country to ratify the GST Constitutional Amendment Bill," the Financial Express quoted Sonowal.

For the Bill to become a law, at least 15 or half the total number of states are required to pass it in their respective Assemblies and both houses of Parliament need to pass the Central Goods and Service Tax (CGST) and Integrated Goods and Service Tax (IGST) Bills.

The Bill will make India one 'common market place' and is also expected to bring great efficiency and transparency in the indirect tax system of the country, improving the economic growth.

The Bill, which was hanging in the Rajya Sabha as Congress had blocked it, was finally cleared by the Upper House during the Monsoon Session of Parliament.

First published: 12 August 2016, 14:00 IST
 
PREVIOUS STORY
NEXT STORY