Adityanath tables UP GST Bill in Vidhan Sabha

Chief minister Yogi Adityanath tabled the Uttar Pradesh Goods and Services Tax Bill2017 in the Vidhan Sabha on Monday, describing the new tax regime as a “welfare measure”.

The Uttar Pradesh legislature is likely to pass the bill in the ongoing session. The tabling of the UP GST Bill was last item on the agenda of the Vidhan Sabha and the house was adjourned for the day thereafter.

“GST is an important step not only for traders, but also for economic reforms in the country. ‘One Nation, One Tax’ is in the interest of the country and also of the state. Now the responsibility is on the Vidhan Sabha to pass the GST Bill,” Adityanath said.

“In politics you have a 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 said, exuding confidence.

The session was convened especially for introduction and passage of the GST Bill with the Narendra Modi-led Central government keen on rolling out the indirect tax regime from July 1.

After the House was adjourned for the day, a workshop was conducted to apprise all legislators of the salient features of the proposed legislation on GST. On May 2, the UP cabinet had approved a draft bill for implementation of the GST in the state.

After the bill is passed by the state assembly, where the BJP has a three-fourth majority, Uttar Pradesh will join the likes of Uttarakhand, Jharkhand, Telangana, Bihar and Rajasthan whose legislatures have given their nod to the indirect tax regime.

The state government is confident that its tax revenue would increase under GST, which is touted as the most liberal tax structure to be adopted in the country.

Four key GST legislations -the Central GST Act, the Integrated GST Act, the GST (Compensation to States) Act and the Union Territory GST Act -- were passed by the Parliament in its last session. The four legislations, which have since got the president’s assent, aim to pave way for the roll-out of GST from July 1.

The ‘consumer state’ of Uttar Pradesh is projected to be a net tax gainer under the new tax regime as GST is a destination-based taxation system as against manufacturing source based.

UP had also witnessed its tax kitty burgeon under the Value Added Tax (VAT) regime. VAT was implemented in the northern state on January 1, 2008 during the Mayawati-led government.