 "Odisha ratifies Constitution Amendment Bill for GST roll out")
On Thursday, Odisha passed the Goods and Services Tax (GST) constitutional amendment bill — officially called, The Constitution (122nd Amendment) (GST) Bill, 2014. It became the 16th state to ratify it paving the way for presidential assent of the Bill, which is crucial for roll out of GST.
At a special sitting, the state assembly unanimously passed a resolution to ratify the Bill after a threadbare discussion on GST.
"I convey my thanks to the Leader of Opposition and members of the august house for taking part in the discussion which will bring comprehensive reform in the indirect tax regime of the country. It is the culmination of a series of efforts initiated by the Government of India since February 2007, when the empowered committee of state finance ministers was tasked with preparation of a roadmap for introduction of GST in 2010," Chief Minister Naveen Patnaik said after ratification of the Bill.
Commenting on the benefits of GST, Patnaik said, "A number of benefits are expected to accrue not only to the central and state governments but also to the consumers, business and industry from the changeover to the GST system. The overall tax burden on most commodities is expected to come down. The Government will get the benefit of higher revenue efficiency. The business and industry will find it easier to comply with."
But, Odisha will make a separate request to the Government of India to consider its concern for imposition of green tax on polluting goods in addition to GST. It will also ask the Centre to take appropriate action for Central Sales Tax (CST) compensation till the current financial year, due to reduction of CST rate from four per cent to two per cent.
Leader of Opposition Narsingha Mishra said, the GST Council should not be vested with overarching powers and the cap on GST be fixed at 18 per cent for the benefit of the poor.