Karnataka State Legislative Assembly passes GST Bill

Bengaluru: The Karnataka State Legislative Assembly on Thursday passed the Karnataka Goods and Services Tax Bill, 2017, paving the way for the state government to implement it from July 1.

As of now, the state government levies value-added tax, entry tax, luxury tax, special entry tax, entertainment tax, lottery tax and betting tax.

Prior to tabling the Bill, Chief Minister Siddaramaiah said GST was the brainchild of the UPA government, and it was started by then Finance Minister P Chidambaram.

 “All states have been instructed to pass legislation on GST. So far, 25 states have passed this and Karnataka will be the 26th. Our GST is a replica of the Centre’s GST Bill.”

The state government has organised meetings with auditors, industries and other stakeholders on the new tax system. “Associations like FKCCI and KASSIA have agreed to this,” he said.