“Bihar has been supporting GST Bill for the past decade”.
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Other states that have announced plans to hold a special assembly session include Jharkhand, Madhya Pradesh and Chhattisgarh. The earlier bill, which was passed in 2015 in Lok Sabha, was finally passed in the Rajya Sabha last week months after Opposition parties led by the Congress demanded certain changes in the bill.
At least 50% of the states have to pass the Constitution 122 Amendment Bill, 2014, for the next steps of legislative action to follow to ultimately introduce a pan-India Goods and Services Tax regime. Similarly, Maharashtra has shown interest in calling a special assembly session for clearing the Bill. The ratification process by other states is expected to be a smooth for the Centre with 13 states being governed by BJP.
The Bill has been passed by the two chambers of Parliament and now needs to be passed by at least 15 of the 29 state assemblies to become law. While the Rajya Sabha passed the Bill on August 3, the Lok Sabha did the same on August 8.
The state government’s revenues have declined after it imposed total liquor ban in Bihar in April.
The oil and gas sector will not gain from the goods and service tax (GST) and will lose out due to compliance with dual taxation regimes and non-creditable tax costs, says a report.
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The rate will be suggested to parliament by the GST Council which teams the Finance Minister with his counterparts from states.
