GST Bill ratified by 16 states

Story By: Rajesh Sharma
Friday, September, 02 2016 - 16:20

Sixteen states have already ratified the legislation of GST Bill, Finance Minister Arun Jaitley said on Thursday.

“The requisite number of states has ratified the GST Constitution Amendment Bill and now it can go for Presidential assent,” Jaitley tweeted.

The GST being a constitutional amendment requires 50% of state assemblies to ratify it.

On 12 August 2016, Assam became the first state to ratify the bill, when the Assam Legislative Assembly unanimously approved it.

The states which have passed the legislation of Bill include Bihar (August 16), Jharkhand (August 17), Chhattisgarh (August 22), Himachal Pradesh (August 22), Gujarat (August 23), Madhya Pradesh and Delhi (August 24), Nagaland (August 24), Maharashtra, Haryana, Sikkim (August 29), Mizoram, Telangana (August 30), Goa (August 31) and Odisha (September 1).

The Goods and Services Tax Bill (GST Bill), officially known as The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, proposes a national Value added Tax to be implemented in India from 1 April 2017.

The GST is the biggest tax reform since Independence it is expected to create uniform market for seamless movement of goods and services with one tax rate.

GST would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the central and state governments.



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