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BJP-ruled Assam becomes first state to ratify GST bill

India TV News Desk Guwahati 12 Aug 2016, 14:04:07 PM IST
India TV News Desk

The Assam assembly on Friday unanimously passed GST bill becoming the first state to roll out the new tax regime, after its passage by both houses of parliament this month.

“A historic resolution was passed in Assam Assembly as Assam became the 1st State to ratify the Constitutional Amendment Bill relating to GST," Chief Minister Sarbananda Sonowal tweeted soon after it was ratified.

“I am sure Assam will benefit from the GST through higher economic growth and better revenue collection," said the 53-year-old chief minister, who is a senior leader of the Bharatiya Janata Party (BJP).

At least 50 per cent of the states have to pass what is technically the Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, for the next steps of legislative action to follow, to ultimately introduce a pan-India Goods and Services Tax regime.

The new regime seeks to subsume all central indirect levies like excise duty, countervailing duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, to create a single, pan-India market.

(With inputs from IANS)