MP assembly passes bill to pave way for implementation of GST No tax war among states: MP finance minister
Madhya Pradesh state assembly passed Madhya Pradesh Goods and Services Tax bill unanimously on Wednesday to pave the way for implementation of GST across the country possibly from July. A special session of the assembly was convened for passage of the bill.bhopal Updated: May 16, 2017 18:26 IST
Bhopal: Madhya Pradesh state assembly passed Madhya Pradesh Goods and Services Tax bill unanimously on Wednesday to pave the way for implementation of GST across the country possibly from July. A special session of the assembly was convened for passage of the bill.
Replying to the discussion on the bill finance minister Jayant Malaiya said the GST will give much freedom to the traders. It will be based on a self-assessment of a business by the trader concerned. There would be assessment of only 5% of the traders in comparison to the existing figure of 40%. Also, the traders would not have to file separate returns and challan for separate tax.
Malaiya said there would now be no tax war among the states as GST meant one nation one tax. The most important aspect of the GST was the country’s federal system remained intact. There were 13 meetings of GST Council in which representatives of 31 states and union territories took part but all the decisions were taken unanimously.
The minister said the commercial tax department launched a campaign in the state to create awareness among the traders on GST. Workshops were organised at about 300 places. So far about 2.5 lakh traders had migrated to GST. To tackle the problems cropping up in the coming time a GST help desk had been set up at the commercial tax department headquarters and also in every circle.
He said the traders with more than Rs 20 lakh annual turnover would be enrolled under the GST whereas the amount of Rs 10 lakh under Value Added Tax (VAT) Act. The traders with Rs 50 lakh annual turnover would have the facility to pay the tax in one installment. All the registered traders would be entitled for input tax credit.
Earlier, Congress MLA Mahendra Kalukheda said the format of the GST suggested that there would be return of ‘Inspector Raj’ in the country. Chartered accountants will benefit from it. Officials would have more discretionary powers whereas the need of hour was to curtail their discretionary powers.
Congress MLA Jaivardhan Singh said the government needed to make clear several aspects of GST.
When speaker Dr Sitasharan Sharma went ahead for a voice vote on the bill leader Opposition state assembly Ajay Singh asked the speaker to consider the bill passed unanimously.