UP Cabinet approves GST; 5th state to do so

New Delhi, May 3 (KNN) The Uttar Pradesh Cabinet on Tuesday approved implementation of the Goods and Service Tax (GST) in the state.

The bill associated with it will be tabled in the assembly session on May 15.

If the assembly ratifies the bill, Uttar Pradesh will become the fifth state after Jharkhand, Telangana, Bihar and Rajasthan to give its nod to GST.

The government is all set to roll out GST from July 1, 2017.

“The cabinet has approved the State Goods and Services Tax Bill, 2017 and it will be passed by the state assembly in the session commencing May 15,” UP minister Suresh Kumar Khanna said.

After GST is implemented, revenue of the state is likely to increase, he said.

 “If there is any burden on the state exchequer due to the implementation of GST, the government will meet it for next five years. Petroleum products will not be covered under GST,” Khanna said.