Local Goa News

Tuesday, August 23, 2016

Cabinet nod for GST Bill

PANJIM: The Cabinet on Tuesday granted its nod to the Goods and Service Tax (GST) Bill, via circulation. The government will now call for a special one-day session to pass the GST bill on August 31.
Chief Minister Laxmikant Parsekar confirmed this to media persons and said the Bill will be passed in the Assembly by end of this month.

As per law, 50 percent of the States need to pass the Bill to make it legislation. The bill was passed in Parliament earlier this month. So far seven states have given their approval to the Bill.
During the recently concluded monsoon session of the State Assembly, the government had welcomed the GST regime in the country claiming that the passing of the Bill in Parliament will help the State
“We being a tourism State will be benefitted due to this regime,” Parsekar had told the House.
Parsekar had said that there is no involvement of any risk factor as the Central government has assured to compensate tax lost for five years.

Herald Goa News

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