Home / Knowledge / News / Textiles / Gujarat, MP & Delhi take GST ratified tally to 8
Gujarat, MP & Delhi take GST ratified tally to 8
25
Aug '16
The number of states that have ratified the Constitution (122nd Amendment) Bill pertaining to the Goods and Services Tax (GST) has swelled to eight after the Chhattisgarh, Gujarat, Madhya Pradesh and Delhi legislative assemblies approved the same this week. The Bill needs to be ratified by at least 15 states before the President can notify GST Council.

Assam, Bihar, Jharkhand and Himachal Pradesh have already ratified the GST Bill, which aims to implement the largest tax reform in independent India. The Bill aims at replacing all central indirect levies like excise duty, countervailing duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, by a single tax pan-India.

Under the GST, there is a provision for states to collect special tax during any natural calamity or disaster, subject to approval by the GST Council.

The GST Council, once formed, will draft the subsequent Central GST, Integrated GST and State GST Bills. The Central government is keen to implement the GST by April 1, 2017, as it would send a positive signal to the industry.

Both the Lok Sabha and Rajya Sabha passed the GST Bill earlier this month.

Delhi is the third non-NDA state to ratify the Bill after Bihar and Himachal Pradesh. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search