AGARTALA, May 19 - Tripura Finance Minister Bhanu Lal Saha will table the State Goods and Services Tax (GST) Bill on the first day of the Assembly session beginning on May 23, official sources said here on Friday.The decision was taken in the Business Advisory Committee (BAC) meeting held in Assembly premises here today.
“On the first day, Tripura State GST Bill will be tabled by the Finance Minister. Thereafter there will be discussion on the Bill. It will be put up for voting on May 25, the last date of the special session of the Assembly”, said a BAC member.
Both Lok Sabha and Rajya Sabha have already passed the GST Bill, one of the major tax reform steps after independence.
Now, the State Government will have to pass the SGST to pave the way for switching over to the new tax regime. The GST will come into effect across the country from July 1 next.
Major features of GST: 1) Soap, toothpaste, hair oil to become cheaper at 18 per cent GST against 22-24 per cent excise and VAT 2) ACs and Refrigerators to fall in the 28 pc GST tax slab against 29 pc tax currently. 3) Capital goods to attract 18 pc GST instead of 28 pc. 4) Milk and curd will continue to be exempted under GST. 5) Sugar, tea, conffee (barring instant coffee) and edible oil to be taxed at 5 pc under GST against current rate of 4-6 pc and food grains – wheat and rice – to be exempted from GST.