Meghalaya's taxation department is fully geared up for the smooth implementation of the Goods and Services Tax (GST), Governor Banwarilal Purohit said on Friday.
"This new indirect tax regime in India will be the most significant tax reform which will merge the two spheres of indirect taxation currently collected under the Central Sales Tax Act," he said while addressing the assembly at the beginning of its budget session.
However, Purohit said that Meghalaya will retain the taxation on sale of high speed diesel, motor spirit and alcohol for human consumption.
The Governor also informed that the tax collection under Meghalaya Value Added Tax Act is expected to increase by 15 per cent annually.
"E-services have been successfully implemented which are in line with the ease of doing business initiative of the central government," Purohit told the legislators.
He also informed that tax payment under the Meghalaya Passenger & Goods Taxation Act of any taxable vehicle crossing the check point gates in the state can now be viewed online, adding that this system is expected to augment revenue collection.
Purohit said the excise department has taken steps towards generating more revenue even while complying with the restrictions imposed by the Supreme Court on opening of wine shops along the National and State Highways.
He said the rate of tax as the rate of transport pass fee and import pass fee for Indian-Made Foreign Liquor (IMFL), beer and wine has been increased.
--IANS
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