Featured Post

9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Assam becomes first state to ratify GST Bill

Assam on 12th August 2016 became the first state in the country to ratify the constitution amendment bill on the Goods and Services Tax (GST) as the assembly unanimously passed the bill. The state cabinet approved the bill on Friday morning, before it was placed in the House during the ongoing assembly session. “A historic resolution was passed in the assembly on Friday. Assam became the first state to ratify the constitutional amendment bill relating to the 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 Mr.Sonowal.
GST constitution amendment Bill needs to be ratified by at least 16 of the 31 state assemblies, including the assemblies of Union Territories Delhi and Puducherry. It would receive a presidential assent when that is done and the empowered committee of finance ministers would turn into the GST Council to draft the subsequent Central GST, Integrated GST and State GST Bills. Apart from the above three states, Bihar has promised a special session while West Bengal and Delhi could ratify the Bill at their respective assembly sessions at the end of the month.