The Uttar Pradesh Assembly unanimously passed the UP Goods and Services Tax (GST) Bill 2017 on Tuesday, reported news agency PTI. The Bill, which was tabled on Monday, was passed by a voice vote. Chief Minister Yogi Adityanath described it as a revolutionary step, in the interest of both consumers and traders, and will bring uniformity in the tax structure, PTI reported.
“The GST bill is the result of the Modi Government’s push towards wider economic reforms,” Adityanath was quoted as saying by PTI. He had on Monday called it a ‘welfare measure’. The on-going Assembly session is the first under the Adityanath-led BJP government.
“In politics you have difference of opinions, but the consensus of different political parties for economic development is laudable. GST is getting support from all over the country. Eight states have already passed GST. The onus is now on UP and it (bill) will be passed in this assembly session,” the chief minister had said on Monday.
In a separate development, the Andhra Pradesh Assembly held a special session on Tuesday, during which the GST was passed. Chief Minister N Chandrababu Naidu called the move an ‘innovative change’. “This is a revolutionary reform after the economic reforms and will enable a two per cent growth in the nation’s gross domestic product,” he added.
State Finance Minister Yanamala Ramakrishnudu, while introducing the Bill, said its implementation would cause a revenue loss of Rs 2,600 crore per annum during the initial years. “This loss will, however, be compensated by the Government of India from the fund created under the Goods and Services Tax (Compensation to States) Act, 2017,” he added.
The Parliament, on April 6, passed four legislations to facilitate the roll-out of the new tax regime on July 1 this year.
UP and AP join around 8 other states in passing the State GST, including Uttarakhand, Jharkhand, Telangana, Bihar and Rajasthan.