The Odisha Legislative Assembly has unanimously ratified the Constitution Amendment Bill for Goods and Services Tax (GST). Chief Minister Naveen Patnaik moved the statutory resolution in this regard at a special one-day session of the assembly. Odisha became the 16th state to ratify it.
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.
So let’s do:
1. Name the sixteenth state, which has passed GST bill?
Source – Business Standard