Deepak Gupta | Aug 22, 2016 |
The 122nd constitution amendment bill to roll out GST has been sent to the states for their ratification after it received Parliament’s nod.
At least 11 states, including those governed by the Bharatiya Janata Party (BJP) and opposition political parties, are in the process of ratifying the legislation. While, 3 states have already ratified the bill Assam, Bihar and Jharkhand.
GST is intended to dismantle interstate barriers in trade in goods and services and create a common market of 1.25 billion people.
The states that have announced their intent to ratify the legislation include the
BJP or Alliance States
Once the constitution amendment bill is enacted, the government will set up a GST council that will decide on crucial issues such as tax rates and finalize three GST laws. The government is aiming to table the central GST law and the integrated GST law in the winter session of Parliament. The state GST law will go to all the states for passage.
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