State will benefit from GST, says Finance Minister

Tribune News Service

Chandigarh, January 18

State Finance and Excise and Taxation Minister Capt Abhimanyu today termed the introduction of Goods and Services Tax (GST) a revolutionary step towards ‘one nation-one tax system’. He said this would simplify the tax system between states and the Centre.

At a press conference today, the minister said most of the states had agreed to introduce the GST with effect from July 1, 2017.

On being asked if the state government would suffer any loss with the introduction of the GST, the minister said the state would get 14 per cent of the revenue for 2015-16. This would be admissible for five years.

The Finance Minister said according to an estimate, 86 per cent dealers had a turnover of Rs 1.5 crore, whereas 14 per cent earned even more. These 14 per cent dealers give more revenue.

Capt Abhimanyu said the state budget was likely be presented in the Haryana Assembly by the end of February 2017.

When his attention was drawn towards the entry of over Rs 1,000 crore in Charkhi Dadri, Capt Abhimanyu said the state and the Central governments, Income Tax Department and Enforcement Directorate had been working for the last two months to check any violation of law in view of demonetisation.

When asked what action the government has taken against HCS officers who were charge-sheeted for their role in the Jat agitation, the minister said the Home Department was processing the case.