SHILLONG: Meghalaya is ready to implement the Goods and Services Tax (GST), which will be officially launched in Parliament on June 30 midnight.
Officials here said the State has followed all instructions on GST. Around 6,000 traders in Meghalaya have registered so far for the new tax regime.
On the challenges in implementation, the officials said these could be ascertained after GST is rolled out.
Minister in charge of Taxation Zenith Sangma is scheduled to attend the inauguration of the new tax regime in New Delhi on Friday. But it is not known whether he would attend the launch function since the Congress party at the Centre has decided to boycott the event terming the launch as “showoff”.
Several workshops and consultative meetings had taken place in Meghalaya since the GST Bill was passed in Parliament.
GST is an indirect tax that will replace taxes levied by the central and the State governments.
It was introduced as The Constitution (122nd Amendment) Act 2017, following the passage of the Constitution 122nd Amendment Bill.
GST will be levied on all transactions such as sale, transfer, purchase, barter, lease, or import of goods and/or services. India will adopt a dual GST model, which means that tax will be administered by both the Union and the State governments.
