Finance Minister Shashi Bhusan Behera said the Goods and Services Tax (GST), rolled out in the country on July 1, would benefit the State a lot.
He said this to reporters here on Tuesday while informing that over 64 per cent of traders in Odisha have already registered with the GST during the first month of its rollout.
“Over 64 per cent of our traders have already registered till date. It is a remarkable transition from the VAT to the GST since July 1,” he said adding that wide publicity drive has been made by the State Government for bringing traders under the new tax regime.
“Through several media forums and seminars, our officials have been clarifying the doubts and queries on the GST,” he said.
The Minister said, as the check gates have been abolished in the State, the business class and consumers have heaved a sigh of relief goods reaching them quickly.
“Delay in goods transportation and its extra costing used to tell against the interest of consumers earlier. Hence, the GST will obviously help in our economic growth,” he said.
Behera said consumers have gained as cost of essential commodities has gone down following exemption of taxes, albeit a loss of income source caused to the State Government. He said traders under both the slabs of above Rs 20 lakh and below Rs 20 lakh have registered for the GST.
Minister said both the general public and traders would definitely reap benefits in coming days.