16 states ratify GST

With Odisha on Thursday becoming the 16th state to ratify the GST Bill, the constitution amendment is now ready to be sent for the President's assent before being notified as law.
Thus, the pan-India overhaul of India's indirect tax regime has got the mandatory support of more than half the states much earlier than the Centre's targeted deadline of rolling out the GST by the start of the next fiscal on April 1, 2017.
After Goa became the 15th state to ratify the GST bill on Wednesday , decks would have already been cleared for presidential assent had the West Bengal government moved for its ratification earlier this week. It did not do so at a one day special session on Monday , citing “time constraints“.
Meanwhile, at a meeting with the Empowered Committee of State Finance Ministers on GST on Monday , India Inc. pitched for an 18 per cent standard rate. They said this rate would generate adequate tax buoyancy without fuelling inflation.

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