Our Correspondent
Kohima | May 26
Nagaland State Chief Minister, Dr Shurhozelie Liezietsu today said that the Goods and Service Tax (GST) Bill will be taken up for consideration and passing in the special session of the Nagaland Legislative Assembly on May 27 in Kohima.
Speaking at the workshop on GST here at Banquet Hall, he said the GST regime is definitely going to be a milestone for making the tax administration in the state more effective and transparent, thereby having a beneficial effect on the consumers and the economy as a whole.
“We also expect that the tax collection in the state would see a rise in the GST regime,” he said. However, he stated that in the event of loss of revenue, “we would be compensated for the shortfall in collection by the central government for the next five years for which the relevant Act has been passed by the Parliament.” Dr. Liezietsu also said the introduction of GST régime will open a new era in the indirect taxation structure and administration in India.
Chief Secretary, Pankaj Kumar said the GST is to be implemented with effect from July 1, 2017.
The final step in legislative process for implementation of GST in Nagaland is the passing and enactment of the Nagaland Goods and Services Tax Bill 2017. The GST Bill was approved by the cabinet yesterday.
The purpose of the workshop is to familiarize legislators with the important features of GST system and the Nagaland Goods and Services Tax Bill 2017. Earlier, a presentation on GST was made by Asangba Chuba Ao, Commissioner of Taxes, Nagaland while Finance Commissioner, Abhijit Sinha proposed the vote of thanks.
