Assam finance minister Himanta Biswa Sarma on Sunday said GST is an IT enabled taxation system and therefore no need of any human interference in it.
“The state government has decided to close all check gates in the state within 45 days,” Sarma said.
While attending an interaction programme with the youth and young entrepreneurs on GST organized by the state finance department held in Guwahati, the Assam minister said at present 77,000 people registered under GST in the state and the state government has extended the time for registration up to July 30.
“After GST rollout, it will reduce tax evasion cases and people will benefit under it. In first 2 years, the own tax collection will reduce in the Assam like consumer states. But, it will gradually increase. The initial loss to be encountered by the states would also be compensated by the union government. I think the tax collection of Assam will increase double in next five years,” Himanta Biswa Sarma said.
“GST is a destination based tax system which will benefit consumer states like Assam,” Sarma said.
Himanta Biswa Sarma cleared all doubts about the threshold limit of GST which is Rs 10 lakh in the state and said that it is done in the greater interest of Assam.
“As all traders will collect tax under GST from consumers, it is obligatory upon them to deposit the same to the state exchequer. However, considering the volume of business carried out by traders in the state, the threshold limit is kept at Rs 10 lakh,” Sarma said.
Stating that GST will immensely benefit the common men, Sarma said that all essential commodities are either exempted or kept in 5â„… category.
The Assam Minister also expressed the view that GST will help industrialization in consumer states like Assam as gradually manufacturing hub will evenly be distributed and augment Revenue collection in the state.
On the other hand, Assam Chief Minister Sarbananda Sonowal said oods and Services Tax (GST) is a historic tax reform which will lead to inclusive growth in the country.
Extolling Prime Minister Narendra Modi for his visionary leadership in making GST a reality in the country, Sonowal also reiterated that GST will bring about a paradigm shift in the entire indirect tax system by replacing most of the indirect taxes of Centre and States with a single point single tax.
Sonowal also informed that with the rolling out of GST, corruption and black money will end.
He further highlighted the anti corruption drives carried out in the state which helped in the growth of tax collection Upto 22â„….
The Assam CM also informed about engagement of Nodal Officers for GST registration and awareness generation activities at circle level in the state.
Sonowal hailed the country’s spirit of cooperative federalism which made the implementation of GST possible and remarked that under the dynamic leadership of Prime Minister Narendra Modi the country would be able to become an economic powerhouse and GST roll out would bring about transparency in the tax regime of the country.
“GST would also provide a facilitating environment for the small businesses to grow and consumers to get benefits directly,” Sonowal said.
In view of Prime Minister Narendra Modi’s steps to bring NE to the forefront of the country’s growth trajectory, the Assam CM said that Guwahati would become the gateway to the South East Asia and not merely remain the gateway to the Northeast and State Capital Region would expand the boundaries of the city to encompass nearby areas.
Additional Chief Secretary VB Pyarelal, Central Tax Commissioner Vinay Pauland State Tax Commissioner Anurag Goel werealso present in the programme.
(Reporting by Hemanta Kumar Nath)
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