Guwahati: Assam today became the first state to ratify the Constitution amendment bill related with the Goods and Services Tax, following 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.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
"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).
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.
Advertisement
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
COMMENTS
Advertisement
Bhupesh Baghel Loses From Rajnandgaon Seat To BJP's Santosh Pandey On Constitution Change, Reservation, Rahul Gandhi Takes On Amit Shah Uddhav Thackeray's Party Fields Arvind Sawant From Mumbai South: 5 Points Barack Obama Wants Joe Biden To Pull Out Of US Presidential Race: Report World's Largest Isolated Tribe Makes Rare Appearance In New Footage 32 Dead In Bangladesh Unrest, Protesters Set Fire To State TV Headquarters Comedy Legend Bob Newhart Dead At 94: Publicist Israeli Strike Kills Field Commander In Elite Hezbollah Unit: Report Delhi-San Francisco Air India Flight Diverted To Russia After Engine Glitch Track Latest News Live on NDTV.com and get news updates from India and around the world.