A long special session will be held by the Goa government on August 31 to approve the crucial Goods and Service Tax (GST) Bill.
“The state cabinet has already granted its nod to the GST. We will summon one-day special session on August 31 to ratify the Bill which is already passed in Parliament,” Chief Minister Laxmikant Parsekar said.
The GST Bill has been already passed by the Lok Sabha and Rajya Sabha.
The Bill will be approved by nearly 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues.
The passage of the Bill was welcomed by Parsekar during the Monsoon Session in Parliament which stated that it will help Goa, which is a tourist state.
On August 8, the Bill was passed by Parliament to look into the tax reforms. Prime Minister Narendra Modi asserted that the bill was “crucial” for ending tax terrorism besides reducing corruption and blackmoney while making consumer the “king”.
The GST Bill was first passed by Assam state. Last week, Bihar became the first non-NDA state to ratify it after Chief Minister Nitish Kumar counted virtues of the tax reform.
A deadline of April 2017 has been setup by the government for its rollout.