Assam to secure favourable tax slab for tea under GST

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Assam Finance Minister Himanta Biswa Sarma on Thursday said that the state is trying to secure a favourable tax slab for tea under the Goods and Services Tax (GST) regime.

Participating in the debate on Assam Goods and Services Tax (GST) Bill in the state assembly, Sarma said: “The next GST Council meeting will be held on May 18-19 in Jammu and Kashmir’s Srinagar. We are trying to ensure that tea is not taxed in the higher tax slab.” 

Arguing in favour of the GST, Sarma said that the biggest indirect tax reform since Independence will usher in development in consumer states such as Assam. “Besides benefiting the consumers, the GST regime will ensure enforcement” of the desired level of taxation, he said.

The state government has assured that the Sixth Schedule areas will be able to retain amusement tax in the GST regime. Sarma said: “Industry will continue to get the benefits.”

India proposes to introduce the GST, which will subsume multiple levies into one tax, helping create an integrated home market in the $2-trillion economy. The GST is likely to be introduced from July 1.

Read more at: http://economictimes.indiatimes.com/news/politics-and-nation/assam-to-secure-favourable-tax-slab-for-tea-under-gst/articleshow/58629469.cms

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