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Goods and Services Tax system will overcome the drawbacks of the old taxation system : Deputy CM

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Imphal, 29 May 2017 ( Evening News ) : Deputy Chief Minister and Finance,Taxation and Excise Minister-in-Charge  Yumnam Joykumar, expressed that Goods and Services Tax system will overcome the drawbacks of the old taxation system. He made the statement at an Awareness Campaign on Goods and Services Tax organised jointly by Commissioner of Central Excise and Service Tax, Shillong Government of India and Commissioner , Department of Taxes, Government of Manipur at Manipur State Film Development Society's Auditorium in Palace Compound, today. Joykumar also said the Goods and Services Tax system under the Union Finance Ministry which will be effective from june this year will do away with the culture of collecting taxes from people to fill personal pockets. The Finance Minister further said, since in the new  taxation system, commodities right from Manufacturer to consumer will be levied single tax, it will benefit  Manipur which is basically a consumer state. He appealed the people to register for GST and shift from the old taxation system as soon as possible . Speaking at the occasion,  Chief Commissioner of Customs, Central Excise and Service Tax Shillong-Zone, SK Panda said, the Goods and Services Tax system will be effective all over India from June this year and added many states have already registered and migrated in the new system. However, for  Manipur state so far only 45 per cent have migrated. He also said, the new taxation will benefit many businessmen.  GST System is very transparent and it will bring the central and state into one taxation  all over India. Panda said once the GST System starts implementing fully, it will bring down inflation as well. Finance Commissioner, Manipur Government , Vivek Kumar Dewangan, Commissioner of Central Excise and Service Tax Shillong, Gaigongdin Panmei and many people attended the awareness program.

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