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UP Assembly passes GST Bill

ANI  |  Lucknow (Uttar Pradesh) [India] 

The Assembly on Tuesday passed the Goods and Services (GST) Bill.

This bill was tabled in the House yesterday by Chief Minister

Opposition demanded some amendments which were turned down by the and later the bill was cleared by house unanimously.

After passage from the lower house it will now be taken to upper house of legislature -Legislative council

Speaking during discussion, Adityanath said that is the biggest economic reform by the union

He said it will make country economically sound.

He said there will be uniform market across the country eliminating, multiple taxes on any single commodity.

He said after the new regime is implemented, of the state is likely to increase.

On May 2, the Cabinet had approved a draft bill for implementation of the in the state. After the passage of bill by the assembly, will join states like Uttarakhand, Jharkhand, Telangana, and Rajasthan whose legislatures have given their nod to the new regime.

Four key 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. Different indirect taxes like the central excise duty, central sales 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: Tue, May 16 2017. 20:22 IST