Wednesday, July 9, 2025
spot_img

M’laya gets ready for GST implementation

Date:

Share post:

spot_imgspot_img

SHILLONG: The State government is ready to implement GST that provides a single tax regime.
In reply to a question by Winnerson D. Sangma of the Congress, Taxation Minister Zenith Sangma said on Tuesday in the Assembly that GST, which will be implemented soon, will be one of the most important indirect tax reforms in the country.
According to the minister, GST will replace the present multitude of indirect taxes being levied by the Centre and the State like excise duty, service charge, special additional duty of customs, VAT, central sales tax, luxury tax and others. These and other taxes will be subsumed under the goods and services tax.
The minister said GST will remove the inherent weaknesses present in the current indirect taxation system and will remove the cascading effect on prices of goods and services due to multiple taxes.
The target date for introduction of GST will most likely be from July 1 but the final decision will be taken by the GST Council, he said.
To a supplementary question, Zenith said four slabs have been worked out for implementing GST in the State.
He said as per the proposed GST slab, the tax on various goods, which are levied at present ranging from 3 to 9 per cent, has been fixed at 5 per cent.
The tax levied from 9 to 15 per cent stands at 12 per cent for GST and those at 15 to 20 per cent have been fixed at 18 per cent.
The GST for goods above 21 per cent has been fixed at 28 per cent.
According to the minister, additional tax will be levied on luxury items.

spot_imgspot_img

Related articles

Many of you can become astronauts, walk on Moon: Shubhanshu tells students at NESAC

NEW DELHI, July 8: “Many of you can become future astronauts, even walk on the Moon,” Shubhanshu Shukla...

Keep all 18 Khasi villages in Meghalaya: Heads of Raid Nongtung urge Conrad

SHILLONG, July 8: The traditional village heads along the Assam-Meghalaya border in Ri-Bhoi, under the banner of the...

Drug addiction fuels rise in petty crimes in city, says police

SHILLONG, July 8: There is a rise in petty crimes such as thefts and burglaries in the city,...

MHRC seeks report on alleged torture of youth at Sohra PS

SHILLONG, July 8: The Meghalaya Human Rights Commission (MHRC) has directed the Superintendent of Police of East Khasi...