Assam becomes first state to ratify GST Bill
The Assam Assembly on Friday passed the Goods and Services Tax (GST) Bill to rollout the new tax regime with a slew of preparatory action.
Zee Media Bureau
New Delhi: The Assam Assembly on Friday unanimously passed the Goods and Services Tax (GST) Bill to rollout the new tax regime, following its passage by both houses of parliament this month.
— Himanta Biswa Sarma (@himantabiswa) August 12, 2016
State finance minister Himanta Biswa Sarma had in his speech while presenting the state budget for 2016-17 dwelt on the GST and the state's preparedness for adapting to the new taxation structure.
The state had already decided to switch to a new software designed by Infosys for both front-end and back-end users. The new system is expected to benefit the tax department, and trade and industry.
To upgrade the tax department's network connectivity, the state government had proposed a World Bank-assisted project.
The state government is also in the process of preparing master trainers, who can then train all officers of the tax department and representatives of different stakeholders in the GST law in a phased manner.
GST will replace most of the indirect taxes of the Centre and states with a one-point single tax. State taxes like state VAT, central sales tax, luxury tax, entry tax (all forms), and entertainment and amusement tax (except those levied by local bodies) will be incorporated into the GST.
At least 50 percent of the states have to pass what is technically the Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, for the next steps of legislative action to follow, to ultimately introduce a pan-India Goods and Services Tax regime.
With Agency Inputs