The Telangana Legislature on Tuesday unanimously ratified the Goods and Services Tax Constitutional Amendment Bill, becoming 12th state to have approved the legislation that will pave the way for roll-out of a single and unified tax system in the country.
Both Houses of the Legislature met for a special one-day session to approve the Constitution (122nd Amendment) (Goods and Services Tax) Bill, passed by Parliament earlier this month.
Chief Minister K Chandrasekhar Rao introduced the resolution seeking the ratification in the Assembly while Deputy Chief Minister Kadiyam Srihari moved it in the Council.
"I sincerely thank all the members for unanimously passing the resolution to ratify the Amendment Bill," KCR said after the ratification.
He said Telangana Finance Minister Etela Rajendar had conveyed the state government's feelings about the Bill in the meetings convened by Union Finance Minister Arun Jaitley.
Earlier before moving the resolution, KCR said the Bill may help Telangana as the GST Bill empowers states to levy service tax which is currently under the purview of Centre.
According to him, Telangana would largely benefit (after the implementation of GST) as significant share of its income comes from service sector.