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Goa Assembly unanimously passes Goods and Services Tax Bill

IANS Panaji 09 May 2017, 15:28:31 PM IST

The Goa Assembly today unanimously passed the Goods and Services Tax Bill after a brief discussion.

The legislation, passed by the Parliament earlier and crucial for rolling out the new pan-India indirect tax regime, was passed following a brief discussion in the assembly after it was introduced by Chief Minister Manohar Parrikar, who also holds the Finance portfolio.

"The GST will simplify the tax structure. Several taxes in force now will be done away with after the GST is enforced. It will bring relief to people across sections, including the business community," Parrikar said.

The Chief Minister said that the state could expect to gain anywhere from Rs 600 crore to Rs 1,000 crore annually after the implementation of GST.

Several other states have already passed the GST legislation, which is expected to be rolled out in July according to Union Finance Minister Arun Jaitley.

In August last year, the Goa Assembly had unanimously passed a resolution ratifying the amendments to the Constitution to pave way for the presidential assent to the Goods and Services Tax Bill, 2016.