Thiruvananthapuram, August 18: On Thursday Kerala Assembly passed the Kerala State Goods and Services Tax Bill, 2017. Finance Minister TM Thomas Isaac said steps would be taken to provide a subsidy to the small and medium enterprises that had affected due to the Goods and Services Tax (GST).
The Legal Metrology Department would be strengthened to check the price hike of commodities in the open market. Public distribution system also would strengthen, he said.
Heading towards an aim of achieving the goal of ‘One Nation, One Tax’ Kerala stepped ahead by passing GST Bill, 2017. Better late than never, Kerala too stands on the path of achieving the goal of the unified tax system. GST, the single tax regime, will benefit consumers and attract private investment also replace multiple state and central taxes to create one national market. This bill seeks to subsume all central indirect levies like excise duty, countervailing duty and service tax and also state taxes such as value added tax, entry tax and luxury tax, to create a single, pan-India market.