Sikkim, Mizoram and Telangana ratify GST Bill
Q. Which state became the 12th to pass the landmark tax reform GST bill?- Published on 31 Aug 16a. Assam
b. Manipur
c. Mizoram
d. Sikkim
ANSWER: Sikkim
Eleven states -- Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra and Nagaland, have already ratified the Bill.
- Sikkim Assembly ratified the GST Bill as a Constitutional Amendment Bill on GST.
- The Constitution (122nd Amendment) Bill, 2014 on GST was passed by Parliament recently and it needs to be ratified by at least 15 state legislatures before
- The President can notify the GST Council which will decide the new tax rate and other issues. The government has set April 1, 2017 as target for rolling out GST, considered as the biggest tax reform.
- Meanwhile, Mizoram Assembly ratifies GST Mizoram Assembly today ratified the Goods and Services Tax (GST) Constitutional Amendment bill by adopting an official resolution, becoming 13th state to have approved the legislation.
- The state legislature unanimously adopted the official resolution moved by Finance and Taxation Minister Lalsawta after deliberations on the first day of the Assembly.
- Telangana Legislature ratifies GST Bill The Telangana Legislature on 30th August unanimously ratified the Goods and Services Tax Constitutional Amendment Bill, becoming 14th state to have approved the legislation that will pave the way for roll-out of a single and unified tax system in the country.
- While manufactured consumer goods will become cheaper as the incidence of excise duty and VAT will come down from 25-26 per cent at present, the cost of services would by and large, go up from the present 15 per cent levy.
- The Constitution Amendment Bill passed by Parliament needs to be ratified by more than half of the total states before it could be sent for Presidential assent.
- So far, 12 states have ratified the Bill.
