State assembly clears two bills under GST

 Nariman Point
 State assembly clears two bills under GST

A three-day special session kickstarted in Maharashtra Legislature to pass the GST bill. The assembly unanimously cleared two of the three bills under the Maharashtra Goods and Services Tax. This includes two bills, Bill 34 and 35.
In this discussion, the former Chief Minister, Prithviraj Chavan, demanded that the implementation of the GST Act shouldn't start from 1 July as this will result in huge losses. The tax collection method is computerised. The private company has been given this task. Still, the work of Infosys is not complete. The authorities will need time to learn this mechanism. Also, the cyber attack can be a big hit. Therefore, the GST Act should be implemented from 1 September onwards.

Features of GST Bill No. 34 (Bill to provide compensation to the municipal corporation and other local authority for the loss of revenue caused by the octroi and cancellation of local bodies tax due to the implementation of goods and services) related to them.

Under this, compensation will be given after the cancellation of the commodity, Local Body Tax and Cess. I

Features of Bill Number 35: (Regarding the change in the state's tax act as well as in relation to the local bodies, "Maharashtra State Goods and Services Tax (Amendment, Regulation and Prohibition) Bill).

Also Read - The Long Wait Is Over! GST Rates Are Out

In this bill, the legislation has been passed to give local authority the right to collect entertainment tax, levy octroi and local bodies tax after implementation of goods and services tax, limiting sales tax to petroleum products and the issue, and changing the motor vehicle law for the definition of vehicle prices.

The MLAs of the ruling and opposition parties were absent while discussing the GST in both the Houses. For the implementation of GST in the state on Sunday, the Maharashtra State Sector and Service Tax Bill No. 33 will be formulated.

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