The Assam Goods and Services Tax (GST) Bill, 2017, was unanimously passed by the assembly on Thursday, making the state 11th in the country to do so.
Finance Minister Himanta Biswa Sarma, while arguing in favour of the GST Bill, told the assembly that the new system will usher in a new era of development in Assam.
A special session of the assembly was called to pass the bill. Thursday was the last day of the session.
In August 2016, the assembly ratified the Constitution Amendment Bill on Goods and Services Tax, making Assam the first state in the country to do so.
Sarma, who tabled the Assam GST Bill 2017 in the assembly on Tuesday, said the state is trying to get favourable tax slab for tea in the new indirect tax system.
The next GST Council meeting will be held on May 18-19 in Srinagar.
"We are trying to ensure that tea is not taxed in the higher slab," he said while participating in the discussion.
"Being a consumer state, Assam is going to benefit from this new tax regime. Assam is playing a proactive role on the GST issue. Although the growth will be less initially, we are hopeful that state consumers will benefit immensely and growth will take place later on," he said.
Allaying fears of Assam's industry, Sarma said there will not be any bar on the continuation of the Northeast Industrial and Investment Promotion Policy.
"Earlier, it was exemption model, but now it is going to be a reimbursement model. The Sixth Scheduled areas (under the Constitution) will be able to retain amusement tax under the GST system," he said.
--IANS
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