Awareness campaign on goods and service tax held
Source: The Sangai Express / DIPR
Imphal, May 29 2017:
Deputy Chief Minister Y Joykumar Singh has said that implementation of Goods and Service Tax (GST) will enhance the overall State resources.
He was speaking at the inaugural session of the awareness campaign on Goods and Service Tax at the auditorium of Manipur State Film Development Society, Palace Compound in Imphal today.
Joykumar Singh who is also in charge of Finance portfolio said that the new tax regime which will be rolled out across the country from July 1 will also benefit the State in many ways.
He said, "The uniform tax regime will mend the loopholes in tax collection avenues and also cover the tax revenue lapses.
GST which is the consumer based tax will benefit the people also as it is transparent and many taxes will be subsumed in this tax."
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Citing the discussions made in the 14th GST Council Meeting held at Srinagar on May 18 and 19, he said that he had proposed to keep the handloom sector at 0% tax slab which is the lowest among the five different tax slabs in GST.
However, the Council observed it needs to be discussed again in its 15th meeting which is going to be held on June 2 and 3 in New Delhi.
On fermenteed fish (Ngari), he said that the Council decided to impose 5% GST on coastal marine dried fish and therefore Ngari may also fall under this tax slab.
All farm products will be levied 0% GST, he added.
While emphasizing the need to co-operate with the new tax regime, Deputy Chief Minister said, "People should know the new tax system as well.
For speedy passage of the GST Bill, a dissemination workshop for the Legislators will be held tomorrow" .
Today's campaign programme was jointly organised by Commissioner of Central Excise and Service Tax, Shillong, Government of India and Department of Taxes, Government of Manipur.