GST bill unanimously passed in Maharashtra Assembly

Posted on:30 Aug 2016 09:06:41
GST bill unanimously passed in Maharashtra Assembly
30 August 2016 Current Affairs: Maharashtra Legislative Assembly has ratified the Goods and Services Tax (GST) Constitutional Amendment Bill passed by the parliament.

The proposal was passed unanimously by the Lower House, making Maharashtra the ninth state to ratify the GST bill, billed as the biggest tax reform since Independence.

The Finance Minister Sudhir Mungantiwar tabled a resolution in the Assembly to ratify the bill.

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 January 2018

16 JANUARY
NEWS
15 JANUARY
NEWS
14 JANUARY
NEWS
13 JANUARY
NEWS

Current Affairs December 2017

31 DECEMBER
NEWS
30 DECEMBER
NEWS
29 DECEMBER
NEWS
28 DECEMBER
NEWS

Current Affairs November 2017

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS