 "Odisha Cabinet approves GST Bill; six items exempted from new tax regime")
The Odisha Cabinet approved the Goods and Services Tax (GST) Bill. The Bill is slated to be ratified by the state legislative assembly at a two-day special session beginning from on May 18.
After the enactment of GST Bill, the new tax would be levied on all items except six products. Alcohol and petroleum products have been kept beyomd the purview of the propsed tax regime.
State government also gave its nod to increase electricity duty on captive power plants (CPPs) from 30 paisa to 55 paisa per unit. This step will bring in incremental revenue of Rs 875 crore to the state exchequer every year.
Among other proposals in the cabinet agenda, the move to exempt 11 railway projects from stamp duty got approved as well.
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