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India GST hits 50% state approval

  • GST
  • 01 September 2016 | Richard Asquith

India GST hits 50% state approval

Over 50% of the Indian states have now approved the implementation of the new Goods & Services Tax Bill. This means the legislation can now been approved by the President of the country. The final obstacle, setting a nation-wide GST rate, remains to be overcome.  The should be resolved in November

Odisha was the 16th of the 31 Indian states to approve the Constitutional Amendment Bill.  It took 23 days to reach this majority milestone, ahead of the scheduled 30 days.

Indian GST will replace a swath of indirect tax, including: VAT; CENVAT; Service Tax; excise duties; and Professional Tax. As well as simplifying bureaucracy, it will reduce the overlapping taxes which result in compounding taxes.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.