Imphal, June 6: With an aim of achieving the goal of ‘One Nation, One Tax’, On Monday the Manipur Legislative Assembly passed the Manipur Goods and Service Services Tax Bill, 2017. The Bill will be implemented as soon as the Government issues a gazette notification.
During the discussion state Chief Minister N Biren Singh said that under GST Manipur would generate revenue of around Rs 150 crore to Rs 200 crore annually. Further, Singh added that “Steps are taken up to include state’s favorite Ngari or dried and fermented fish in the exemption list of GST, as we’re consuming it regularly. Same in case of handloom products, as handlooms are our pride.”
Deputy Chief Minister Y Joykumar Singh, said that its passing provided a "golden jump" for revenue mobilization which will simplify the indirect tax regime in the state. 'One nation-one tax' is the soul of GST, he said adding it is a destination-based consumption tax which will flow to the state where goods and services are consumed. So states like Manipur which are consumer states will benefit from GST, he added.
Finance Minister Y Joykumar tabled 'The Manipur Goods and Service Tax Bill, 2017' for discussion on the last day of the second sitting of the second part of the first 11th Manipur Legislative Assembly session. Minister Joykumar said, “The GST is all about tax reform wherein both consumers and traders will gain from it. It will effectively put an end to multiple taxation.” The passing of the bill which aimed at making a provision for levy and collection of tax on inter-state supply of goods or services or both by the state and matter connected therewith or incidental thereto, will pave the way for a uniform tax regime for goods and services.