ITANAGAR | Apr 19 | Arunachal will soon see benefits after the introduction of Goods and Services Taxes (GST) as assured by Chief Minister Pema Khandu, who is also Minister for Tax and Excise, over a meeting of 5th departmental review meeting of Tax, Excise & Narcotics today.
According to him, GST, which is a destination based tax, will increase the tax revenue of a consumer state and after its implementation; the projected growth of excise revenue will soar up to additional Rs. 145 crore in the current fiscal year, making it whopping Rs. 250 crore than last year’s Rs. 105 crore respectively.
He predicts for huge jump in total revenue collection from the provisional figure projected at Rs 636 crore for the current financial year.
“94% of our state’s own resource comes through Tax and Excise department,” he said and appealed the department officials to gear up to work under the new tax regime so that they may contribute immensely in raising the taxation revenue of the government. He specifically urged them to work with the businessmen, to make them aware of the new taxation laws.
After the implementation of GST, the Tax & Excise department is believed to be corrupt free as it will make business more transparent.
He pointed out the issue of IT connectivity in the state as the biggest challenge due to state’s difficult terrain, and sought centre’s intervention for providing temporary IT facilities through VSAT services in remote locations where cable connectivity is difficult to reach at the earliest.
Also, to make the department more efficient to implement GST, the Chief Minister assured to take up the issue on meeting the manpower shortages and create and approve more posts to curb it on the next cabinet meeting held in May. PRO