GST bill passed in Goa Assembly
The GST Compensation to States Bill is to provide compensation to the states for the loss of revenue that will arise on account of implementation of the GST.
Panaji, May 9: Goa Assembly on Tuesday passed the state Goods and Services Tax Bill with Chief Minister Manohar Parrikar expressing hope that the state would not face any major losses under the new tax regime.
The Parliament had on April 6 passed four legislations to pave the way for nationwide roll-out of GST from July 1. "Goa will not face any major loss after the implementation of the GST. Even if we suffer any losses, the Union government will compensate for it," Parrikar told the House, after tabling the bill.
Later, the bill was passed unanimously by the house, which convened a one-day special session for that. The Chief Minister said Goa has reasonable or lesser taxes as compared to the rest of the country due to which the implementation of GST would become easier for it.
"With the implementation of the GST, the entertainment tax, value-added tax and additional Customs duty would be a thing of the past," he said. Admitting that there would be initial hiccups in implementing the GST bill, Parrikar said it is going to be a boon to several sectors including tourism, which is one of the prominent industries in the state.
Parrikar said he was lucky to be a part of the discussion on GST in the parliament during his tenure at the Centre as Union Defence Minister.
"I am lucky to participate in the discussions on GST in the parliament and also now in Goa Legislative Assembly," he said. He said during the first year of the implementation of the GST, Goa will gain around Rs 600-1,000 crore due to the implementation of the new tax regime.
The
GST
will
force
losses
to
the
tune
of
Rs
700-800
crore
on
the
state
exchequer,
but
Goa
will
gain
Rs
12,000
crore
through
new
tax
regime,
he
said.
"Goa
will
be
a
net
gainer,"
Parrikar
said.
He
said
that
nearly
18,000
small
traders
who
registered
with
the
state
government
would
be
educated
about
it
by
holding
camps
in
June
month
this
year.
Special
camps
for
traders
would
also
be
held
between
May
15
and
22
this
year,
he
said.
The
opposition
also
supported
the
bill
on
the
floor
of
the
house.
"There
will
be
teething
problems
in
implementing
this
new
tax
but
it
is
going
to
be
a
revolutionary
movement
for
the
state,"
former
Chief
Minister
Digambar
Kamat
(Congress)
said.
The Congress party supported the implementation of GST bill but said the government should consider its financial implications.
On March 29, Lok Sabha passed the CGST Bill with amendments. All four bills related to GST passed in Lok Sabha. Lok Sabha Speaker Sumitra Mahajan had called for a vote on clause by clause voting on GST Bill amendments after Finance Minister Arun Jaitley ended his address with a call for passage of the draft bills. "I request the House to pass the bill unanimously drafted by a representative council as is."
As he sought passage of GST Bills Jaitley had said that goods may become slightly cheaper once all other taxes are removed after implementation of the Goods and Service Tax. the debate for GST that went on for the day without lunch break covered various aspects of GST.
On April 6, the GST bills was passed on Thursday in the Rajya Sabha.
The GST Bills comprises of four bills -- Central Goods and Services Tax Bill 2017, Integrated Goods and Services Tax Bill 2017, Union Territory Goods and Services Tax Bill 2017, and Goods and Services Tax (Compensation to the States) Bill 2017. The Union Cabinet approved the four GST-related Bills on March 20.
OneIndia News ( With PTI inputs)