Taking an important step forward on the Goods and Services Tax, Assam has become the first state to ratify the Constitution Amendment Bill on GST. Today, the Assam Assembly unanimously passed the Constitution Amendment Bill on GST. Assam has a BJP government, led by CM Sarbananda Sonowal. “Assam will be remembered as the first state in the country to ratify the GST constitutional amendment bill,” Sonowal said. All states need to pass the GST Bill in their respective assemblies. Also, Central Goods and Service Tax (CGST) and Integrated Goods and Service Tax (IGST) bills need to be passed by both houses of Parliament for the Bill to finally become a law. GST is India’s most important indirect tax reform since Independence.
It is expected to greatly bring in transparency and efficiency in the indirect tax system of the country, making India one ‘common market place’. Last week the Lok Sabha passed the Constitution Amendment Bill on GST after the Rajya Sabha had also given its clearance to it. The passage of GST Bill is a big victory of the Narendra Modi government as the reform is expected to give a good impetus to India’s economic growth. The Bill had been hanging because Congress had been blocking its passage in the Upper House. With most states on board, and the key demands of Congress being met by the government, the GST Bill finally cleared the Rajya Sabha litmus test in this session of the Parliament. The Monsoon session of Parliament, which concluded today, saw many key bills being passed.