Guwahati: Assam Assembly today passed the Goods and Services Tax Bill, paving the way for introduction of single taxation system by eliminating levies by multiple authorities. The Assam Goods and Services Tax Bill, 2017, which had been tabled on Monday, was passed unanimously by the Assembly in a three-day special session to pass the bill.
"The GST will be a win-win for all the three stakeholders - country, state and consumers," Assam Finance Minister Himanta Biswa Sarma said.
Presently, inflation was likely to fall by 0.5 per cent and after fourth year, the state's revenue would increase substantially and stabilise possibly after 10 years, he said adding that the taxes would be abolished.
Corruption was likely to go down with introduction of GST as everything would be computerised and manual interference would almost be abolished, the minister said.
Former chief minister Tarun Gogoi said that Congress supported the GST Bill, but there were some concerns such as the fate of local, small industries on the face of free flow of goods from outside after withdrawal of entry taxes.
Chief Minister Sarbananda Sonowal termed the day as historic.
"Today is a historic day for Assam as the GST Bill has been passed in the state assembly which will go a long way in promoting the spirit of cooperative federalism in the country," Mr Sonowal said at a programme outside the Assembly.
This would also ensure transparency in governance and lead to economic growth, he said.
"The GST will be a win-win for all the three stakeholders - country, state and consumers," Assam Finance Minister Himanta Biswa Sarma said.
Presently, inflation was likely to fall by 0.5 per cent and after fourth year, the state's revenue would increase substantially and stabilise possibly after 10 years, he said adding that the taxes would be abolished.
Former chief minister Tarun Gogoi said that Congress supported the GST Bill, but there were some concerns such as the fate of local, small industries on the face of free flow of goods from outside after withdrawal of entry taxes.
Advertisement
"Today is a historic day for Assam as the GST Bill has been passed in the state assembly which will go a long way in promoting the spirit of cooperative federalism in the country," Mr Sonowal said at a programme outside the Assembly.
Advertisement
COMMENTS
Advertisement
"Withdrawn Now": Himanta Sarma On Assam Hospital's 'Regressive' Advisory Assam To Create New Posts Of Graduate Teacher In Schools: Himanta Sarma "Hope Bangladesh Doesn't Become Safehouse Of Northeast Insurgents Again": Himanta Sarma 2 French Rafale Jets Collide Mid-Air, Instructor, Pilot Missing Ayatollah Khamenei Warns Of "Divine Wrath" If Iran Backs Down Against Israel 9 Arrested For Violence At Kolkata Hospital Where Doctor Was Raped-Murdered Huge Participation At Independence Day Celebrations By Army's Spear Corps Akasa Air Flight Makes Emergency Landing In Bhopal For Sick Passenger Musk Has A Favourite Interview Question That Experts Say Can Catch Liars Track Latest News Live on NDTV.com and get news updates from India and around the world.