 "Sikkim Assembly ratifies GST Bill")
Sikkim on Tuesday ratified the Constitution Amendment Bill on Goods and Services Tax (GST), becoming the 12th state to have passed the landmark tax reform.
Eleven states - Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra and Nagaland, have already ratified the Bill.
In a special sitting of the Sikkim Assembly, the resolution on ratification of the GST bill was moved by R B Subba, state Minister for Law, Legislative and Parliamentary Affairs and passed by the House.
The session concluded with a vote of thanks by the Assembly Speaker K N Rai.
The Constitution (122nd Amendment) Bill, 2014 on GST was passed by Parliament recently and it needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues.
The government has set April 1, 2017 as target for rolling out GST, considered as the biggest tax reform.
Eleven states - Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra and Nagaland, have already ratified the Bill.
In a special sitting of the Sikkim Assembly, the resolution on ratification of the GST bill was moved by R B Subba, state Minister for Law, Legislative and Parliamentary Affairs and passed by the House.
Also Read
Chief Minister Pawan Kumar Chamling thanked the Speaker and all the members of the Sikkim Assembly for conducting the special session and for passing the resolution.
The session concluded with a vote of thanks by the Assembly Speaker K N Rai.
The Constitution (122nd Amendment) Bill, 2014 on GST was passed by Parliament recently and it needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues.
The government has set April 1, 2017 as target for rolling out GST, considered as the biggest tax reform.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%