Telangana ratifies GST
A special session of the Telangana Legislature (Legislative Assembly and Legislative Council) has ratified the Constitutional Amendment Bill for GST. While the Legislative Council passed the Bill unanimously, the Legislative Assembly debated the Bill. Members of the Legislative Assembly (MLAs) for opposition parties, especially the All India Majlis-e-Ittehad-ul Muslimeen (AIMIM) and Congress sought clarifications on the Bill but supported its passage. BJP MLAs expressed confidence that GST would benefit the Telangana State.
Source: The Hindu dated 30 August 2016
Maharashtra, Haryana ratify GST Bill
Maharashtra and Haryana ratified the Constitutional Amendment Bill on GST passed by the Parliament taking the number of states which have passed the landmark tax reform to 11. Besides Maharashtra and Haryana, nine states - Assam, Bihar, Jharkhand, Himachal Pradesh, Chhattisgarh, Gujarat, Madhya Pradesh, Delhi and Nagaland have already ratified the Bill.
Source: Business Standard dated 29 August 2016
Panel to evolve consensus on GST rollout with industry
Industry and trade representatives are set to make the Empowered Committee of State Finance Ministers understand the need to keep the GST rate at reasonable levels, if not 18 percent. The issue will be taken up at a day-long interaction with the committee when the industry and accounting fraternity will express concerns of various sectors about the implementation of the new indirect tax regime with state Finance Ministers.
Source: The Hindu dated 29 August 2016
Government may advance Parliament session to get GST laws approved
Eager to meet the target rollout date of GST on 1 April, the government may advance the Winter Session of Parliament by a fortnight to get supporting legislations passed, leaving sufficient time for the implementation of the new indirect tax regime. The Winter Session of Parliament is normally convened in the third or fourth week of November but this year, the government is aiming to start the month-long session immediately after the end of the festive season. An early Winter Session would help get the Central GST and Integrated GST legislations, that will pave the way for GST to be approved by November, or latest by early December said government officials .
Source: Deccan Herald dated 28 August 2016
Nagaland Assembly ratifies GST Bill
The Nagaland Legislative Assembly ratified the Constitutional Amendment Bill. The Bill was endorsed by the House by a voice vote following a brief discussion.
Source: Business Standard dated 26 August 2016
Madhya Pradesh and Delhi ratify GST
Madhya Pradesh and Delhi became the seventh and eight states to ratify the Constitutional Amendment Bill for the rollout of GST. With eight states ratifying the landmark legislation, it reached the halfway mark of the required number before it can be sent for Presidential assent.
Source: Livemint dated 25 August 2016
Did you know?
The 122nd Constitution Amendment Bill provides for seven products on which either Excise or VAT or both may continue to be levied even under the GST regime. These seven products are:
- Petroleum crude;
- High-speed diesel;
- Motor spirit (commonly known as petrol);
- Natural gas;
- Aviation turbine fuel;
- Tobacco and tobacco products; and
- Alcoholic liquor for human consumption.