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Published: Wed, August 24, 2016
Economy | By Melissa Porter

Himachal Pradesh becomes fourth state to ratify GST Bill

Himachal Pradesh becomes fourth state to ratify GST Bill

"All trade and commerce bodies in the state have hailed the bill", the chief minister said, according to The Indian Express.

The Himachal Pradesh on Monday passed the Goods and Services Tax (GST) bill and thereby became the fourth state to ratify constitutional amendment bill on GST after Assam, Bihar and Jharkhand. Meanwhile, the opposition Congress and Nationalist Congress Party too have chose to support the amendment Bill. The Lok Sabha had passed the Bill and Centre has set itself a deadline of April 1 next year for implementation of GST.

Parsekar had said that there is no involvement of any risk factor as the Central government has assured to compensate tax lost for five years.

The GST Bill is considered as the single biggest tax reform in the country 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 68-member Himachal Pradesh House has 36 Congress members, 28 BJP and rest four are independents supporting the Congress.

Earlier this week, Finance Minister Arun Jaitley wrote a letter to Naidu requesting that the state legislature immediately pass a resolution ratifying the GST Bill. Patel, who came prepared with explanations for questions which could have been asked by the Opposition during discussion, said, "If opposition MLAs were here, they would have asked me why BJP's Gujarat government did not cooperate with UPA government on GST in the past".

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