Arunachal Pradesh State Cabinet headed by Chief Minister Pema Khandu in its meeting today came out with few landmark decisions.
The Cabinet was thoroughly discussed and approved the Arunachal Pradesh Goods and Services Tax Bill 2017 for tabling in the ensuing 12th Special Session of Arunachal Pradesh Legislative Assembly ( APLA ) scheduled on May 12 next. Goods and Services Tax is single indirect tax for the whole nation, which will make India one unified common market. It aims for one nation-one market-one tax rate. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Consuming states like Arunachal Pradesh stands to benefit with this landmark tax regime.
Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer. It will be simple and easy to administer, better control on leakages with robust IT infrastructure, higher revenue efficiency, relief in overall tax burden and with destination based tax it will also greatly help in removing economic distortions and will help in development of a common national market, the Cabinet observed.
In order to honour Pandit Deendayal Upadhayay, a renowned political philosopher who advocated Antyodaya and Sarvodaya, the Cabinet approved for renaming the Chief Minister’s Swalamban Yojana to Deendayal Upadhayay Swalamban Yojana and the Chief Minister’s Bunkar Yojana to Deendayal Upadhayay Bunkar Yojana.