The State of Assam will soon avail all the benefits of GST, being a consumer state. But still, it has to face few losses on the items on which it used to collect taxes are now included in zero tax under GST regime. According to Finance Minister, Himanta Biswa Sarma, all the losses will be covered under the Centre’s Compensation Package for five years.
The government of Assam has planned to disassemble all the sales tax check-gates across the state within 30-45 days. These gates have become extraneous for the state with the enforcement of GST. They are expecting the opening of the e-way bill in the absence of check-gates. This bill is necessary for the items worth over ₹50000 under GST as it needs online registration of the consignment.
Sarma is hopeful in sharing all the losses and profits together with Centre and State. He is looking forward to benefiting from GST in a long run.