Mumbai, May 22: Today, the Maharashtra Assembly passed Goods and Services Tax bill tabled by Chief Minister Devendra Fadnavis. CM Fadnavis thanked everyone saying that "All political parties had unanimity over the GST Bill. Today, this supreme House has unanimously passed this bill. I thank the House for this.”
The Goods and Service Tax (GST) which will come in force from July 1st will unify the country's economy into a common market and eliminate a string of central and state levies. After two days of discussing, he bill will now be sent to the legislative council for approval and is expected to get the upper house’s nod today itself.
Finance Minister Sudhir Mungantinwar said that the new tax regime would help strengthen Maharashtra’s economy and would also eliminate the tax terrorism being faced by the common people. “I personally believe the revenue of the Maharashtra government will increase and after two years, we won’t need any compensation for revenue losses,” Mungantiwar added.
Earlier, the Rajya Sabha passed four GST Bills without amendments setting the stage for the government for the launch on July 1. Union Finance Minister Arun Jaitley had said that the GST would lead to new tax regime.