Wednesday, August 31, 2016

Telangana ratifies GST Bill

Telangana ratifies GST Bill

The Telangana Legislative Assembly and Legislative Council have unanimously passed a resolution giving their nod to the proposed Amendment to the Constitution to pass the GST (Goods and Service Tax) 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. Telangana has become the __ State to ratify the Bill.

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