BHUBANESWAR: Decks have been cleared for seeking presidential assent to the Goods and Services Tax GST ) Bill after Odisha Assembly ratified it on Thursday.Odisha became the 16th state to approve the Bill, a day after Goa passed it on Wednesday.With this, the historic tax reform Bill can now be sent to President Pranab Mukherjee for his approval.The approval from 16 states has come far ahead of the Centre’s targeted deadline of rolling out the new taxation system from April 1, 2017."With Odisha ratifying the Constitutional Amendment bill for GST, minimum requirement of 50 per cent states ratifying the bill is complete," said revenue secretary Hasmukh Adhia in a tweet."Glad to inform that we are ahead of our schedule for implementation of GST so far. Instead of 30 days kept for this it is achieved in 23 days," he said in another tweet.The Odisha Assembly accepted the Bill through a voice vote after discussion for around four hours during a one-day special session convened just to ratify the GST Bill Chief minister Naveen Patnaik , who moved the statutory resolution for the 122nd amendment Bill, 2014, said there are many challenges to roll out the GST next year.“We have to establish legal frameworks through enactment of GST laws by the Centre and the states, put in place a robust information technology-based platform for administering the new tax, manage the change through training of the tax administrators and officials, familiarize the members of trade and industry with the processes of the new taxation system and sensitize the public about its effect,” he said.The chief minister said that the GST will benefit not only the Centre and the states but also consumers, business and industry. "The overall tax burden on most commodities is expected to come down. The government will get the benefit of higher revenue efficiency. The business and industry will find it easier to comply with," he said.The chief minister said that Odisha will request the Centre to consider state’s concern for imposition of green tax on polluting goods in addition to the GST and seek appropriate action for central sales tax (CST) compensation to the states up to 2016-17, due to reduction in CST rate from 4% to 2%.Leader of opposition Narasingha Mishra and BJP legislature party leader KV Singhdeo, among many others, spoke about early passage of the Bill in the country’s interest.The Constitutional Amendment Bill for GST was passed by Parliament on August 8.The government is planning to roll out the indirect tax regime from April 1. While the Centre has to draft the CGST and IGST laws, the states will have to come up with an SGST law.But before supporting legislations go to Parliament in November, the state finance ministers have to agree on a GST rate, tax slabs and exempted goods and services.GST rate will have to be approved by the GST Council , comprising the Union Finance Minister and representatives of all the 31 states and UTs.Assam was the first state to ratify the GST Bill.(With inputs from agencies)