PATNA: Bihar state assembly today unanimously ratified Constitution Amendment Bill on Goods and Services Tax (GST) by convening a special session.
With this, Bihar becomes only the second state after Assam to pass the bill.
According to observers, the state governments widely support the GST since it will boost their share of taxes and make cross-border trade far smoother. Bihar too could benefit by a share of around Rs 80 billion.
The GST Bill, seen as single biggest tax reform in a long time, needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues.
The proposal for the GST was cleared by the Rajya Sabha on August 3. On August 8, the Lok Sabha had unanimously passed the Constitution Amendment Bill with 443 members present in the House voting in favour of the legislation.