The Telangana state legislature has ratified the Goods and Services Tax (GST) Bill which was earlier passed by the Parliament this month. So far, nine states have ratified this bill and more are in line.
Both the houses have unanimously passed a resolution for ratifying the GST Bill (122nd Constitution Amendment Bill, 2014). Telangana CM Chief Minister KCR has hailed the passing of this unanimous resolution as a good precedent.
It is known that this bill should be ratified by the legislatures of half of the Indian states before it could be presented to the President of India for his final and formal assent. KCR reportedly stated this will improve E-com and Software Export sectors.
