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UP Assembly passes GST Bill

Press Trust of India  |  Lucknow 

The Assembly today unanimously passed the UP Goods and Service Bill, 2017. The bill, which was yesterday tabled in the Vidhan Sabha, was today passed unanimously through a voice vote with the Opposition not pressing for sending it to the select committee. Initiating the discussion on the bill, Chief Minister termed it as revolutionary move which is in the interest of both consumers and traders. "The Bill is the result of the Modi government's move towards wider economic reforms," he said, adding that it will bring uniformity in the structure. Participating in the debate, Leader of the Opposition Ram Govind Chaudhary suggested sending the bill to the select committee for wider scrutiny. Nitin Agarwal and Sanjay Garg (SP), Uma Shankar Singh (BSP) and Kumar Laloo (Congress) raised doubts over certain provisions in the measure and demanded that small traders be exempted from it. However, they were all in favour of the bill. Members of the opposition parties said that filing of returns online three times a month would be cumbersome and suggested monetary fine in place of jail term for those who do not comply with it. In his reply, the chief minister allayed their fears, giving point-by-point clarification. "The doubts of the members over lack of computer knowledge has been taken care of ...

It will benefit small traders," he said, adding that the Centre will compensate for the loss of revenue to states with the coming into effect. "There is no need to be afraid of the .. All non-BJP ruled states have also passed it. For redressing their problems, the council is going to hold its meeting soon," the chief minister said. Chaudhary said there had been some doubts over the bill which had kept it pending for so long but after Adityanath said there was no need to worry, the bill was passed unanimously. The session was convened especially for the introduction and passage of the Bill with the Narendra keen on rolling out the indirect regime from July 1. After the bill is passed by both Houses of the state legislature, will join the likes of Uttarakhand, Jharkhand, Telangana, Bihar and Rajasthan whose legislatures have given their nod to the indirect regime. The state is confident that its revenue would increase due to the GST, which is touted as the most liberal structure to be adopted in the country. Four key legislations -- the Central Act, the Integrated Act, the (Compensation to States) Act and the Union Territory Act -- were passed by Parliament in its last session. The four legislations have since got the president's assent. Seen as a path-breaking step in the taxation regime, the is expected to create a congenial and cohesive atmosphere for business in the country. Different indirect taxes like the central excise duty, central sales and service are to be merged with the C-GST, while the S-will subsume state sales tax, VAT, luxury and entertainment The 'consumer state' of is projected to be a net gainer under the new regime as the is a destination-based taxation system as against manufacturing source based. The state Commercial Department had been holding consultative meetings for several months with all stakeholders, including traders and experts, to elicit their views on the new structure.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 16 2017. 17:42 IST