SHILLONG, Sept 6 - Meghalaya is likely to become the second Congress-ruled State and overall 17th in the country to ratify the Goods and Services Constitution Amendment Bill. The Cabinet today decided to propose a resolution in the upcoming Assembly session, to begin from Friday, to ratify the GST Bill.
Assam was the first State to ratify the Bill while Himachal Pradesh was the first Congress-ruled State to ratify it. Altogether, 16 States have ratified the Bill paving the way for the President's assent to the Bill.
Chief Minister Dr Mukul Sangma said after chairing the Cabinet at the Secretariat here that there are indications that the State would not lose revenue after GST is introduced throughout the country. "In any case, we have been assured of compensation if there is a drop in revenue collection," he added.
Asked about the ideal GST rate the State wants to be introduced, Sangma said the rate cap would be discussed when the resolution is adopted in the Assembly. The Chief Minister was also of the opinion that the introduction of GST would have "less impact on the consumers in the State."
The Cabinet also decided to amend the Municipal Act of 1973. Urban Affairs Minister RV Lyngdoh said since the Act is old certain sections needs change to suit the present times. The amendment bill would also be introduced in the upcoming session.