Dimapur, June 28 (EMN): The department of Economics, KROS College organised a talk on GST on June 28, under the chairmanship of Mhabemo Ovung, assistant professor, Department of Economics.
Assistant professor, Magdalin Solo, gave the introductory note on GST.
The speaker of the talk, Kelühol Tase stressed on the prevailing GST issues, why GST is so important and how GST help India and common man. He asserted that Goods & Services Tax is going to have a two-pronged benefit. One, it will reduce the cascading effect of taxes, and second, by allowing input tax credit, it will reduce the burden of taxes and also may be prices. Goods and Services Tax will address the tax structure after it is implemented, he added.
Tase stated that with the introduction of GST, which is likely to be affected on 1 July, the syllabus of B.com of Nagaland University (Semester System) needs a drastic change. The present syllabus of central excise, custom duty, central sales tax and value added tax need to be review as per the need of the society.
