Mizoram assembly unanimously passed the Mizoram Goods and Services Tax (GST) Bill, 2017 in a one-day special session of the legislature today.
State Taxation Mminister Lalsawta, who introduced the bill, hoped that the new tax regime under GST to be in place in the country from July one would help in substantial increase in revenue for the state government and broadening the tax base while decreasing prices of commodities for the common people.
Cutting across party lines members of the state legislature supported the bill and hoped that the new law would be beneficial for both the state government and the people.
The assembly also unanimously passed the amendment bill to the Mizoram Value Added Tax (VAT) Act as introduced by Lalsawta.
The amendment was made to include items like alcoholic liquor, petroleum crude, motor spirit, high speed diesel, natural gas and aviation turbine fuel in the Mizoram VAT Act as the items were left out of the purview of the GST Act.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)