Goa Assembly ratifies GST Bill

Posted on:02 Sep 2016 09:38:55
Goa Assembly ratifies GST Bill
02 September 2016 Current Affairs: The Goa Legislative Assembly has unanimously passed a resolution ratifying the amendments to the Constitution to pave way for the presidential assent to the Goods and Services (GST) Bill, 2016.

 Goa is the 15th State Assembly to ratify the Bill. With this, 50% of States have passed the Bill paving way for the presidential assent.

GST is a tax levied when a consumer buys a good or service. It is meant to be a single, comprehensive tax that will subsume all the other smaller indirect taxes on consumption like service tax, excise duty etc. This is how it is done in most developed countries.

 It will be a comprehensive nationwide indirect tax on the manufacture, sale, and consumption of goods and services. 

The aim is to have one indirect tax for the whole nation, which will make India a unified common market.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs September 2017

26 SEPTEMBER
NEWS
25 SEPTEMBER
NEWS
23 SEPTEMBER
NEWS
22 SEPTEMBER
NEWS

Current Affairs August 2017

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS

Current Affairs July 2017

31 JULY
NEWS
29 JULY
NEWS
28 JULY
NEWS
27 JULY
NEWS