Bihar on Monday became the second state after Telangana to pass state Goods and Services Tax bill, touted as the biggest tax reform since independence.With the lone exception of CPI (ML), all the political parties backed the bills associated with the tax reforms.The tax is scheduled to be rolled out in the next quarter of the fiscal year. The state was also the second state in the country, after Assam, to rectify the constitutional amendment bill necessary for the tax reform.
 
The bill, along with five others, was tabled in a special session of the state legislature. The state cabinet gave its nod to the draft bill regarding the new tax regime earlier last week.
 
Terming the tax reform as the pro-poor and development-booster, state Commercial Tax Minister Vijayendra Yadav said that GST is the need of the hour. "We welcome the new tax regime. It would benefit the poor and the common man. The whole country would benefit and hence Bihar will also gain from it. With this bill, Bihar is once again making history," said the minister. #casansaar (PTI - Business Standard)