Agartala: Union Finance Minister Nirmala Sitharaman on Friday said that the introduction of Goods and Service Tax (GST) so far proved to be a boon for the northeastern states as far as the financial aspects are concerned.
Citing the example of Tripura, the Finance Minister said in just a span of five to six years, this state’s share of central taxes had reached triple digit from the single digit.
“In 2015-16, the year before the GST was introduced, Tripura received Rs 4.21 crore as a share of central taxes. In the last financial year, the state’s total collection stood at Rs 982.50 crore. You can see the difference, a substantial jump from the single digit to triple digit and it has become possible because of the introduction of GST,” the Union Minister told a gathering in Agartala during the inauguration of GST Bhavan.
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Urging the business community of Tripura to get enrolled in the uniform tax system, she said, “From now on, GST has a physical presence here through this building. A dedicated section will be set up here for helping the people understand the nitty-gritty of GST. They can come over here and discuss everything in detail. The business community has a lot to gain by enrolling themselves into the GST and if they stay out of it they will only be devoid of the benefits accrued with system.”
The Union Minister also said that no big corporation shows any interest to do business with non-GST institutions.
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