Meghalaya observes second anniv of GST

SHILLONG: While the state on Monday observed the second anniversary of the implementation of the Goods and Service Tax (GST), the revenue collection in Meghalaya under the GST in 2018-19 has gone up to Rs 806 crore.
L Khongsit, Joint Commissioner of Taxes while speaking to The Shillong Times said that in 2017-18, SGST and IGST credit collection was Rs 376 crore, and the money would come to the state exchequer.
When asked about the implementation of GST in Meghalaya, he said the state is doing quite good and the revenue gap in 2017-18 was 50 per cent and it reduced to 30 percent in 2018-19.
“We are expecting that in the year 19-20, the revenue gap would further come down to 15 per cent,” he said while asserting that the department is hoping to meet the project growth in two years time from now.
Violation by shop keepers
When asked about the shopkeepers who do not show the SGST and CGST share in their invoice, he said that it is a violation of the provisions of the rules and shopkeepers must mention SGST and CGST separately.
Informing that the invoice format has been prescribed in the rules, he added that the department may have to create awareness among the business establishments on this aspect besides asking them to conform to the rules.
The   new tax regime came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Union Government. The tax replaced existing multiple cascading taxes levied by the  central  and state governments.
The tax rates, rules and regulations are governed by the GST Council which comprises finance ministers of centre and all the states.