Assam first to ratify GST Bill

Tribune News Service

Guwahati, August 12

Assam today became the first state in the country to unanimously ratify the Constitution (122nd Amendment) Bill, 2014, on goods and services tax (GST).

The Constitution (122nd Amendment) Bill was introduced in the state legislative Assembly by the ruling BJP-led coalition government after obtaining special permission from Speaker Ranjit Das.

Soon after the Bill was ratified by the state Assembly, Prime Minister Narendra Modi called up Chief Minister Sarbananda Sonowal to congratulate him.

Chief Minister Sonowal later told the media that the GST Bill that would eventually be introduced as a result of the amendment would be beneficial for the state.

Terming the GST Bill a revolutionary move, he said, “The north-eastern states, Himalayan states and Jammu and Kashmir will get special concessions under the GST Bill.”

Finance minister HB Sharma, explaining the provisions of the Bill, said the Bill was a symbol of federal cooperation and victory for all parties.

He said, “Assam has become the first state to ratify the constitution amendment. It shows we are a progressive state and eager to keep up with the pace of development.”

Sharma said the state would initially lose around Rs 300 crore after the GST Bill was introduced and the Centre would offer grants to the state for the first five years to compensate the loss. He said the inflation would come down by 1-2% after the GST Bill became effective.