Gujarat assembly clears state GST, 2 other related bills
The Dollar Business Bureau The legislative assembly of Gujarat unanimously passed the state GST (Goods and Services Tax) Bill during a special session on Tuesday. In addition, two other related Bills were also passed by the state assembly in a day-long session. The Parliament had cleared four legislations for country-wide roll-out of the new tax regime from July 1 this year. During the session, the state assembly has cleared the Gujarat GST Bill, Gujarat Local Authorities Laws (Amendment) Bill and Gujarat Value Added Tax (Amendment) Bill. The ruling party BJP as well as opposition party’s Congress legislators had lengthy deliberations before clearing the Bill with a voice vote in addition to other two related legislations. ...
Maharashtra Legislature ratifies GST Bill
PTI The Maharashtra Legislature today unanimously ratified the Goods and Services Tax Constitutional Amendment Bill, joining a clutch of states which have already approved the legislation that will pave the way for roll-out of a single and unified tax system in the country. Both Houses of the legislature met for a special one-day session to approve the Constitution (122nd Amendment) (Goods and Services Tax) Bill, passed by Parliament earlier this month, during which Opposition and treasury benches traded charges. Maharashtra, an economic powerhouse, became the 10th state to ratify the crucial legislation, billed as the biggest tax reform since Independence. Before unanimous ratification, during a discussion Congress and NCP-led opposition targeted Prime Minister Narendra Modi for his resistance to the same Bill in ...
Industry calls for GST rollout & reversal of inverted duty structure to boost economy
The Dollar Business Bureau “Thanks to the new NDA government which has brought all the states on board, the GST Bill is most likely to come into force next year,” said Ajay Sahai, DG & CEO of FIEO (Federation of Indian Export Organisations) couple of days ago. Today, Adi Godrej, Godrej Group Chairman pitching for incentives for the manufacturing sector in the upcoming budget said that the Centre must roll out goods & services tax (GST) from next fiscal as it would boost economic growth by 2%. The main objective behind the implementation of the GST is to make country a unified market with lesser number of taxes. Lesser taxes will enable companies to invest more leading to increased ...
