Kohima, June 28 (MExN): The department of Economics, KROS College organised a talk on Goods & Services Tax (GST) on June 28. The programme was chaired by Mhabemo Ovung, Assistant Professor Department of Economics. Magdalin Solo, Assistant Professor Department of Economics gave the introductory note on GST. Keliihol Tase was the speaker of the session. He stress on the prevailing GST issues, why GST is so important and how GST help India and common man. Tase asserted that GST is going to have a two-pronged benefit. One, it will reduce the cascading effect of taxes, and second, by allowing input tax credit, it will reduce the burden of taxes and, hopefully, prices. Goods and Services Tax will address the Tax structure after it is implemented.
The speaker while addressing the crowd said “With the introduction of GST, which is likely to be affected on July 1, 2017, the syllabus of B.com of Nagaland University (Semester System) needs a drastic change. The present syllabus of Central Excise, Custom Duty, Central Sales Tax, and Value Added Tax need to be review as per the need of the society.
