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Workshop on GST for UP lawmakers tomorrow

Press Trust of India  |  Lucknow 

With the keen on rolling out the Goods and Services from July 1, a workshop on the new regime will be held here tomorrow for all legislators on the first day of the assembly session.

An official statement said that all members of the Assembly and the Legislative Council will be provided with adequate information on

"MLAs and MLCs of all political parties have been invited for this workshop. All aspects of passed by the will be explained to the legislators," the statement said.

The workshop will be organised at Lok Bhawan as per the direction of Speaker Hriday Narayan Dixit.

On May 2, the UP cabinet had approved a draft bill for implementation of the in the state.

This will be the first session of the UP Assembly after the stormed to power in the state by a thumping majority.

After the Bill is passed by the assembly, where the has a three-fourth majority, will join states like Uttarakhand, Jharkhand, Telangana, Bihar and Rajasthan whose legislatures have given their nod to the indirect regime.

"After the new tax regime is implemented, revenue of the state is likely to increase," UP minister Suresh Kumar Khanna said.

"If there is any burden on the state exchequer due to the implementation of GST, the will meet the demands for the next five years. Petroleum products, however, will not be covered under GST," he said.

Four key GST legislations -- the Central GST Act, the Integrated GST Act, the GST (Compensation to States) Act and the Union Territory GST Act -- were passed by the Parliament in its last session.

The four legislations, which have since got the president's assent, aim to pave way for the roll-out of GST from July 1.

Seen as a path-breaking step in the taxation regime, GST is expected to create a congenial and cohesive atmosphere for business in the country.

Different indirect taxes like the central excise duty, central sales tax and service tax are to be merged with the C-GST, while S-GST will subsume state sales tax, VAT, luxury tax and entertainment tax.

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

First Published: Sun, May 14 2017. 17:13 IST