Home / Knowledge / News / Textiles / Assam assembly unanimously approves GST Bill
Assam assembly unanimously approves GST Bill
13
Aug '16

The legislative assembly of Assam has unanimously approved the Goods and Services Tax (GST) Bill, becoming the first state to do so. At least 16 of the 31 Indian states including the assemblies of Union Territories Delhi and Puducherry need to ratify the Bill, passed by Parliament, before it can be implemented.

“Proud that Assam is the First state to ratify historic GST Bill, which promises to transform India,” Assam finance minister Himanta Biswa Sarma tweeted at 12 in the afternoon. In another tweet, Sarma said: “Happy to share that Assam assembly has unanimously ratified the GST Bill.”

Once the Bill is ratified by 16 state assemblies, it would receive a presidential assent. Post this exercise, the GST Council 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.

The GST 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. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pexels

Textiles | On 19th Sep 2018

Punitive PRC tariffs on US goods has extra 5% on textiles

Responding to Washington’s latest duty increase in a dispute with...

Courtesy: Tecnorama

Textiles | On 19th Sep 2018

'Reliability & excellent quality are Tecnorama’s USP'

The complete reliability and excellent quality of Tecnorama systems...

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

Interviews View All

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Robert Brunner, Devereux

Robert Brunner
Devereux

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

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


September 2018

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

news category


Related Categories:

Advanced Search