Nagaland Chief Secretary Pankaj Kumar on Saturday claimed that implementation of Goods and Services Tax (GST) will be beneficial to the state as all the different taxes will be combined into one.
Payment of sales taxes, including Central Sales Tax (CST) will also become easier with enforcement of GST, Kumar said while addressing GST awareness campaign organised by Central Excise, Custom and Service Tax and State’s Taxes Department.
Expressing that Nagaland is consumer state, he said states like ours will be benefiting more as the state?s share would reaching directly reaching to us through direct benefit transfer for the products meant for the State.
GST will be a major improvement over existing system and a significant step towards a comprehensive tax reform in the state, he said.
Maintaining that GST will be paid online, the Chief Secretary urged businessmen to cope up with the technology in order to avoid any complications.
Chief Commissioner, Central Excise, Custom & Service Tax, Shilling Zone, SK Panda said that with GST taxpayers will have to pay only one tax in place of many taxes.
GST will be more transparent it is based on internet, he said adding that once a taxpayer has access to GST Network he will be doing all your tax related works sitting in own office.
Panda also informed that GST is a totally PAN-based and all registration will be linked to PAN numbers.
Commissioner of Taxes, Nagaland, Asangba Chuba Ao highlighting the benefits of GST said that it will reduce cascading of taxes and also overall prices of goods.
He informed that it will be beneficial for small taxpayers as all the taxes would be paid for once unlike the present system where tax has to be paid at various stations. It will also abolish CST while the exports would be zero rated.
Ao informed that GST would be applicable on the supply of goods or services besides being destination based consumption tax. Taxpayers with an aggregate turnover in a financial year up to Rs 10 lakh would be exempted from tax, he informed.