Local Goa News

Tuesday, August 30, 2016

Assembly session to ratify GST today

PANAJI: The one-day session of the state legislative assembly will be held on August 31 to ratify the GST (Goods and Services Tax) Bill earlier passed by the Parliament.
Although the Bill has been cleared by both the Houses of Parliament – the Rajya Sabha and the Lok Sabha – it needs ratification by at least half of the states in the country in order to effect a related amendment to the Constitution.

Speaking about the uniform tax structure under the GST regime, which will eliminate the revenue garnered by the state government through entertainment tax and entry tax, the Chief Minister said that there would, however, be overall benefit to Goa due to the particular regime. “And then the Centre has already suggested that states would be duly compensated for loss of revenues arising from GST implementation, for five years,” he noted.
Parsekar, who also holds the finance portfolio, said that he would address the House during its session so as to share the benefits of the GST regime.
Meanwhile, legislature secretary Nilkanth Subhedar said that all preparations have been completed to hold the day-long assembly session, which will commence at 11.30 am on Wednesday.
Meanwhile, Collector for North Goa Nila Mohanan has imposed Section 144 of the Code of Criminal Procedure, 1973, in view of the one-day session of the state legislative assembly, in all public places, streets, roads, squares, thoroughfares, by-lanes and open spaces within a radius of 500 metres around the assembly complex at Porvorim and the area under the jurisdiction of Panaji police station.

TOI Goa News

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