Bhubaneswar: Odisha Finance Minister Pradeep Amat on Thursday said the Goods and Services Tax (GST) would bring uniform tax rate throughout the country and help in seamless movement of goods and services across the states.
The GST bill was passed in Rajya Sabha on Thursday.
“Implementation of GST will provide more relief to the economy, industry, trade, and agriculture as VAT, CST, Entry tax and Entertainment tax will be subsumed in GST. The state will also be empowered to tax on services,” said Amat in a statement.
The efforts of the Empowered Committee of State Finance Ministers’ have been fruitful following the passage of the GST bill. The Centre would take steps for the enactment of CGST and IGST Act and the states to enact SGST Act.
“Our Government has raised the issue to levy additional nonrebatable cess i.e. Green Tax on minerals and other polluting goods sold in the course of interstate trade and commerce to compensate the adverse effect of pollution,” said Amat.
The state government was also demanding a levy of tax on tobacco products by the states over and above the GST as the central government will tax separately as per entry 84 of the Union List of the Constitution.
“Since GST is likely to be implemented from the year 2017-18, we are demanding payment of CST compensation up to the financial year 2016-17,” said the Finance Minister.