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Uttar Pradesh Assembly passes GST Bill

News Agencies | Updated on: 16 May 2017, 17:48 IST
UP CM Adityanath

The Uttar Pradesh Assembly on Tuesday passed the Goods and Services (GST) Bill.

This bill was tabled in the House yesterday by Chief Minister Yogi Adityanath.

Opposition Samajwadi party demanded some amendments which were turned down by the government and later the bill was cleared by house unanimously.

After passage from the lower house it will now be taken to upper house of legislature -Legislative council.

Speaking during discussion, Adityanath said that GST is the biggest economic reform by the union government.

He said it will make country economically sound.

He said there will be uniform market across the country eliminating, multiple taxes on any single commodity.

He said after the new tax regime is implemented, revenue of the state is likely to increase.

On May 2, the Uttar Pradesh Cabinet had approved a draft bill for implementation of the GST in the state. After the passage of bill by the assembly, Uttar Pradesh will join states like Uttarakhand, Jharkhand, Telangana, Bihar and Rajasthan whose legislatures have given their nod to the new tax regime.

Four key GST legislations -- the Central GST Act, the Integrated GST Act, the GST (Compensation to States) Act and the Union Territory GST Act -- were passed by the Parliament in its last session. Different indirect taxes like the central excise duty, central sales tax and service tax are to be merged with the C-GST, while S-GST will subsume state sales tax, VAT, luxury tax and entertainment tax.

-ANI

First published: 16 May 2017, 17:48 IST
 
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