UP Assembly passes Goods and Services Tax (GST) Bill, 2017

May 16, 2017 17:21 IST

UP passes GST BillThe Uttar Pradesh (UP) Assembly on 16 May 2017 unanimously passed the Goods and Services Tax (GST) Bill, 2017 by a voice vote. The Bill was introduced in the state assembly on 15 May 2017.

The passage of the Bill was hailed by UP Chief Minister Yogi Adityanath.

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The GST Bill comprises four bills:
1) The Central Goods and Services Tax Bill, 2017 (The CGST Bill)
2) The Integrated Goods and Services Tax Bill, 2017 (The IGST Bill)
3) The Union Territory Goods and Services Tax Bill, 2017 (The UTGST Bill)
4) The Goods and Services Tax (Compensation to the States) Bill, 2017 (The Compensation Bill)

Provisions of the Bill

• IGST Bill makes provisions for levy and collection of tax on inter-state supply of goods or services or both by the Union Government.
• The CGST Bill makes provisions for levy and collection of tax on intra-state supply of goods and services by the Union Government.
• The UTGST Bill makes provisions for levy on collection of tax on intra-UT supply of goods and services in the Union Territories without legislature.
• Union Territory GST is similar to States Goods and Services Tax (SGST), which shall be levied and collected by the States and Union Territories on intra-state supply of goods or services or both.

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