Shillong, June, 08, 2017: Meghalaya Governor, Banwarilal Purohit has convened the Special Session of the Meghalaya Legislative Assembly on June 12. The Special Session has been convened to allow the Meghalaya Government to table the draft of the Meghalaya Goods and Services Tax (GST) Bill.
Earlier, Chief Minister Dr Mukul Sangma informed that the States will greatly be benefitted with the implementation of the GST adding that the States would also increase their tax collection by 14 % adding that the Centre would compensate if there is a reduction in the tax collection by the State.
“The Centre would compensate the State if there is any difference between their annual revenue. All India State revenue average will be based on the fiscal year in 2015-2016,” he said, adding, “The consumer states like Meghalaya would benefit immensely through the introduction of the GST,”.