GST-GOA 2 LAST

"The Bill will also have positive impact on tourism," "The Bill will also have positive impact on tourism,"Parsekar said. Leader of Opposition Pratapsinh Rane told the House thatsince the Bill exempts five items including petroleum products,there is need for improvement in it in future to avoidcascading effects. He said GST will be beneficial for states like Goa whichis high on consumption and tourism. GST aims to do away with multiple-tax regime on goods andservices and bring them under one rate. It will alter thepresent system of production-based taxation to aconsumption-based one. The government has set a deadline ofApril, 2017 for its roll-out. While manufactured consumer goods will become cheaper asthe incidence of excise duty and VAT will come down from 25-26per cent at present, the cost of services would by and large,go up from the present 15 per cent levy. The Constitution Amendment Bill passed by Parliament needsto be ratified by more than half of the total states before itcould be sent for Presidential assent. So far, 15 states haveratified the Bill. PTI RPS DKDIP