March 2017 Current Affairs
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Bihar becomes first non-NDA govt to ratify GST Bill

Bihar becomes first non-NDA govt to ratify GST Bill
17 August 2016 Current Affairs: The Goods and Services Tax (GST) Bill was passed  in a one-day special session of the Bihar legislature, while 3 MLAs of Communist Party of India-Marxist and Leninist (CPI-ML) boycotted the bill and staged a walkout from the House. Participating in the debate, legislators of both ruling and Opposition parties underlined the benefits of the bill for the state.

Bihar became the second state after Assam to adopt it, while neighbouring Jharkhand is scheduled to convene a special session of the state assembly to ratify the bill.

 The GST Bill, dubbed India’s biggest tax reform, needs to be ratified by at least 15 state legislatures out of a total 29 before the President can notify the GST Council, which would eventually decide the new tax rate and other issues. The Central Government has set a deadline of April 2017 for its rollout.

With Assam and Bihar having ratified the Bill, it now needs to be ratified by 14 more assemblies. Once that is done, the GST Council will be constituted and help the Finance Ministry prepare drafts of the Central GST, Integrated GST and State GST Bills. The Modi government hopes to bring these three Bills in the winter session of Parliament.


March 2017 Current affairs
27 MAR
NEWS
25 MAR
NEWS
24 MAR
NEWS
23 MAR
NEWS
22 MAR
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21 MAR
NEWS

February 2017 Current affairs
28 FEB
NEWS
27 FEB
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25 FEB
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24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS



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