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GST will benefit Manipur: Dy CM

By Newmai News

IMPHAL, Sept 3 - Manipur Government will be able to generate revenue of around Rs 150 crore to Rs 200 crore annually under Goods and Services Tax (GST).

This was informed by Manipur Deputy Chief Minister Yumnam Joykumar, who is also the Finance in-charge, while responding to a starred question raised by MLA Surjakumar Okram during question hour in the recently concluded Assembly session.

The Deputy Chief Minister said that the State is likely to get an increased amount of Rs 103 crore on account of GST revenue compensation assured under GST Compensation Act.

He said that 4,100 dealers have been registered in the State under the new tax regime so far. Out of these 4,100 dealers, 2800 dealers migrated from VAT regime and the remaining 1,300 had registered under GST, Joykumar informed.

Stating that the revenue impact of GST would be positive, he observed that the State would gain from GST.

Responding to a question raised by MLA Y Surchandra, the Deputy CM stated that a total debt of Rs 7,774.42 crore is being incurred by the State.

He also informed the House that the State currently spends Rs 153 crore in Debt Service every month, out of which Rs 110.63 crore is principal amount and Rs 42.37 crore is interest.

Replying to a starred question by MLA RK Imo, Education Minister Th Radheshyam said that the Government would implement the recommendations of the 6th Pay Commission with respect to the salary of Government aided schools when the financial health of the State Government improves.

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