The Nagaland Assembly on Saturday passed Goods and Services Tax (GST) Bill to join rest of the country. The bill was passed by voice vote at the special session of the House. It was introduced by Chief Minister Dr. Shurhozelie Liezeiestu, who also holds the Finance portfolio.
In recent Council meet held in Srinagar, education and healthcare were exempted from taxation in the upcoming GST regime that would tax services at four different rates with transport, including economy class air travel, being taxed at 5 percent.
The GST Council finalised four tax rates of 5, 12, 18 and 28 per cent to apply on services including telecom, insurance, hotels and restaurants under the biggest tax reform since the Independence.
Briefing reporters here after the two-day meeting of the Council, Finance Minister Arun Jaitley said telecom and financial services will be taxed at a standard rate of 18 per cent.
Transport services will be taxed at 5 per cent. This rate will apply to cab aggregators like Ola and Uber as well as those who currently pay 6 percent tax. Non-AC train travel will be exempt and the 5 per cent will be levied on AC travel tickets.
The GST Bills comprises of four bills -- Central Goods and Services Tax Bill 2017, Integrated Goods and Services Tax Bill 2017, Union Territory Goods and Services Tax Bill 2017, and Goods and Services Tax (Compensation to the States) Bill 2017. The Union Cabinet approved the four GST-related Bills on March 20.
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