SHILLONG, Sept 21 - Meghalaya Taxation Minister Zenith Sangma would be attending the Empowered Committee of State Finance Ministers meeting convened on Thursday to discuss on Goods and Service Tax (GST).
Speaking over phone from New Delhi, Sangma said, the main agenda of the meeting would be fixation of the Revenue Neutral Rate (RNR).
He said the Meghalaya Government wants 18 per cent to be the RNR. However, this rate would be fixed only after the meeting tomorrow.
�We are looking at 18 per cent RNR. This tax would be shared 50-50 between the State and Central Government,� the Minister said.
Statng the implementation of GST in the country would benefit �consumers States� like Meghalaya immensely, he added, manufacturing States like Maharashtra, Gujarat, Punjab may lose out. �But for the next five years the Centre would compensate for any loss incurred by any State,� he informed.
Meanwhile, Sangma said, he is attending the meeting as Chief Minister Mukul Sangma, who also holds the Finance portfolio, is leaving for abroad tonight.