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Bihar becomes second state to ratify GST Bill

After Assam, Bihar has become the second state to pass the Goods and Services Tax (GST) Bill to rollout the new tax regime, following its passage by both houses of parliament this month.


Bihar becomes second state to ratify GST Bill

Zee Media Bureau

New Delhi: After Assam, Bihar has become the second state to pass the Goods and Services Tax (GST) Bill to rollout the new tax regime, following its passage by both houses of parliament this month.

A special one-day session of both the Houses of Bihar Legislature was on Tuesday commenced for ratification of the Constitution Amendment Bill on GST.

 

The Bill has been supported by Bihar Chief Minister Nitish Kumar.

The Constitution (One Hundred and Twenty Second Amendment) Bill, 2014 on GST has already been passed by the Lok Sabha and the Rajya Sabha.

 

The GST Bill, seen as single biggest tax reform in a long time, 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 government has set a deadline of April, 2017 for its rollout.

With Agency Inputs

 

From Zee News

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