Assam on Thursday became the 11th State in the country to adopt the Goods and Services Tax (GST) Bill with the State Assembly unanimously passing the Assam Goods and Services Tax (GST) Bill, 2017, on the last day of a three-day special session called for its passage.
Placing the Bill before the Assembly, Assam Finance Minister Dr Himanta Biswa Sharma claimed consumer states such as Assam will benefit under the GST regime.
He said, ‘As long as we are a consumer state, we will gain. GST is a tax reformation measure. The country, each state and all consumers will profit. It is win-win for all.’
Debate over GST Bill
The minister said being a consumer State, Assam stood to benefit. Moreover, tax enforcement, which was earlier lax, will improve and ‘no tax on tax’ will be levied.
Addressing apprehension over abolishment of incentives to industries, Dr Sharma said, ‘The industrial policy will remain the same. Earlier it was exemption model, now it will be reimbursement model.’
Earlier, participating in the discussion over the Bill, former Chief Minister Tarun Gogoi of opposition Congress said, ‘We support the Bill and hence, have brought no amendment. However, we will like to be assured that the consumers’ interests are protected.’
Among the features of the Assam GST Bill, 2017, is PAN-based registration, electronic return filing, tax deduction at source and tax collection at source.