With the approval of President Pranab Mukherjee on the GST Bill, the Bill has already become an Act in India. It is likely to follow the Government deadline of April 1, 2017. Meanwhile, the govt will utilize the time to form a special GST council to set the GST rates for the different sectors of the Indian economy.
Now, After the ratification done by more than 15 percent states, Meghalaya Assembly on Friday ratified the 122nd Constitution Amendment Bill. So, Meghalaya becomes the 17th Congress-ruled state to ratify the bill after Himachal Pradesh. As per the reports, Law Minister Roshan Warjri moved the government resolution for ratification of the bill.
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Speaker A T Mondal declared that the House approved and adopted the new tax reform resolution for ratification of the Bill.
During the cabinet meeting, Chief Minister Mukul Sangma stated, “There are indications that the state would not lose revenue after GST is introduced throughout the country.”
