18 August 2016 Current Affairs GK: Jharkhand became the third state to ratify the Goods and Services Tax Amendment Bill in a special session of the Legislative Assembly.]The GST Bill, described as India's biggest tax reform, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the tax rate.
The Central has set a deadline of April 2017 for its rollout.
Assam was the first state to ratify the bill.Telangana government has also decided to call an Assembly session this month to pass the GST bill.
Bihar became the first non-NDA state to ratify the Constitution Amendment Bill on GST after Chief Minister Nitish Kumar counted virtues of the tax reform.
With all the major parties in the state including JD(U), RJD, Congress and BJP in favour of the tax legislation, the House approved the GST Bill through a voice vote.
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