The Puducherry Assembly has ratified the Goods and Service Tax (GST) Constitution Amendment Bill amid a walkout by AIADMK members. The House adopted a resolution tabled by CM V. Narayanasamy for ratification of 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.
So let’s do:
1. Name the 17th state, which has ratified the Goods and Service Tax (GST) Constitution Amendment Bill?
Source – The Hindu