In a special session held yesterday, the Mizoram State assembly unanimously passed Mizoram Goods and Services Tax (SGST) Bill, 2017.
Mizoram Finance Minister Lalsawta, who introduced the bill, said that the new tax regime under GST to be in place in the country from July one would help in substantial increase in revenue for the state government and broadening the tax base while decreasing prices of commodities for the common people.
The assembly also unanimously passed the amendment bill to the Mizoram Value Added Tax (VAT) Act as introduced by Lalsawta.
The amendment was made to include items like alcoholic liquor, petroleum crude, motor spirit, high speed diesel, natural gas and aviation turbine fuel in the Mizoram VAT Act as the items were left out of the purview of the GST Act.
GST: An Overview of Tax Rates fixed for Goods [Read the Complete Chart]
Earlier the Legislative Assembles of Telangana, Bihar, Jharkhand, Uttarakhand, Madhya Pradesh , Haryana, Goa, Gujarat, Andhra Pradesh and Uttar Pradesh , Puducherry, Maharashtra and Odisha passed the bill.
On May 19th the Government has fixed the rate of tax for goods and services under the new indirect tax regime. With regard to the GST on services, the council broadly agreed on 4 tax brackets having 5%, 12%, 18% and 28% of tax instead of the current uniform rate.
