Thursday, August 25, 2016

Gujarat Assembly ratifies GST Bill

Gujarat Assembly ratifies GST Bill

The Gujarat Assembly has passed the Goods and Service Tax (GST) Constitution Amendment Bill. The state assembly had convened a special session to ratify the Bill that was passed by Parliament earlier this month. Gujarat is the sixth state to pass the bill.

GST is a tax levied when a consumer buys a good or service. It is meant to be a single, comprehensive tax that will subsume all the other smaller indirect taxes on consumption like service tax, excise duty etc. This is how it is done in most developed countries. It will be a comprehensive nationwide indirect tax on the manufacture, sale, and consumption of goods and services. The aim is to have one indirect tax for the whole nation, which will make India a unified common market.

So let's do:
1. Name the sixth state, which has passed Goods and Service Tax (GST) Constitution Amendment Bill?

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