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Dimapur, May 13 (EMN): Awareness campaign on Goods and Service Tax (GST) was held in Mon and Mokokchung respectively on May 12 organised by Commissioner of Taxes, Nagaland.
Addressing the officials, Deputy Commissioners of Mon and Mokokchung, W Honje Konyak and Sushil Kumar Patel said GST will be a major improvement over the existing system and a significant step towards a comprehensive tax reform in the country.
The DC stated that Nagaland has been supporting this reform over the last few years and is among the first few states to ratify the Constitutional Amendment Bill on August 26, 2016, which paved the way for the implementation of GST.
They stated that the State government has been actively engaged with the GST Council and GSTN (Goods and Services Tax Network) in preparing for its smooth introduction and implementation with the rest of the country from July 1, 2017.
They said GST will bring a number of benefits to the State of Nagaland if implemented properly. Traders and industry will have more working capital as seamless input tax credit for the tax paid on previous purchases will be available. There will also be a benefit to consumers because of elimination of tax cascading, the production cost will fall and the prices in general are likely to fall. As a result, goods and services will be made available to the consumers at a cheaper price, they informed.
According to them there is likely to be a revenue gain for the State. It is important since the State must find ways to increase its internal revenue generation which will boost the ability of the State to spend on developmental works.
GST will boost the overall efficiency of the tax system of the State. GST is a self-policing system of tax administration where every stage of transaction of the goods and services will be captured and tracked and a continuous chain of set-off from the original producer up to the retailer level will be established, the stated.
Also speaking at the awareness campaign in Mon, Superintendent of Taxes, Dimapur, Orenponi, said that GST registration number can be obtained based on PAN numbers and for TDS deductors not having PAN, Tan-based registration is possible. Any or all types of entities carrying out supply of goods, services and both goods and service have to register, she informed. She also emphasised on conditions under which multiple registrations may require for a single entity like different business vertical within the same state and supply to different states (separate registration is required for each state).
Superintendent of Taxes, Dimapur, Nitoli said that there is no limit on online payments with 100% secure transactions adding receipt and status of payment can be tracked.
A good number of business community headed by Wanglung, president of District Chamber of Commerce, Mon, attended the awareness programme.
In Mokokchung, Superintendent of Taxes, Mokokchung Zulutemsu Longkumer said the objective of GST is to have single taxation system for goods and services across the country, converting India into a single market. He said it will be beneficial for a consuming state like Nagaland as GST is a consumption based tax/ destination based tax.
Short speech was delivered by Sanjeet Kumar (IRS), Assistant Commissioner of Central Excise & Services Tax, Shillong.
Sanjeet Kumar and Superintendent of Taxes Chunanaro presented an overview, enrolment registration and migration, and returns & payment during the technical session.
MMC officials, dealers and entrepreneurs in Mokokchung town attended the awareness campaign.