Tuesday, August 23, 2016

Himachal Pradesh assembly ratifies GST Bill

Himachal Pradesh assembly ratifies GST Bill

The Himachal Pradesh assembly has unanimously ratified the Constitution Amendment Bill on GST.  The Bill was introduced by CM Virbhadra Singh on the first day of five-day monsoon session. Himachal Pradesh has become the fourth after Assam, Bihar and Jharkhand to ratify 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 state which has passed GST bill recently?

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