DIMAPUR, April 28 - Goods & Services Tax (GST) will be a major improvement over the existing system and that will boost revenue, stated Nagaland Parliamentary Secretary for CAWD & Excise Benjongliba.
He was addressing an awareness campaign on GST at Dimapur Town Hall today.
He also stated that the state government has been supporting the reform for the last few years and was among the first few states to ratify the Constitutional Amendment Bill on August 26, 2016 which paved the way for the implementation of the GST.
After the enactment of the constitutional amendment Act 2016, Benjongliba said, the state government has been actively engaged with the GST Council and GSTN in preparing for its smooth implementation with the rest of the country from July 1, 2017. He observed that if implemented properly, GST would bring number of benefits for the state.
�With the implementation of the GST, cascading of tax due to multiple layers of taxes will be comprehensively eliminated leading to fall in cost of production to the traders and industries will have more working capital as seamless input tax credit for the tax paid on previous purchases will be available�, he said.