Haryana Government is fully prepared to implement the Goods and Services (GST) Bill

Chandigarh, August 4– Haryana Government is fully prepared to implement the Goods and Services (GST) Bill, which has been passed in Rajya Sabha with a thumping majority, said Finance Minister, Capt. Abhimanyu.
The Minister, who was addressing a press conference here today, said that the State Excise and Taxation Department was preparing a roadmap for its implementation as the concerned officers and officials have already been imparted training on how to implement it effectively.
He said that as the Bill has now been passed during the Monsoon Session, all States could complete the proceedings in their Legislative Assemblies and pass this Bill in the Budget Session in 2017. By then, this Bill would take the form of a law, he added.
Replying to a question, he said that the States would not incur any revenue loss after its implementation. However, in case of losses, if any, the Central Government would offer compensation up to five years after its implementation. He said that the revenue growth of the State was increasing and was better than that of the neighbouring States. This would further increase after implementation of the GST Bill, he added. While answering to another question, he said that the World Bank and other financial institutions had also hailed the GST Bill.
Reiterating that the State Government would abide by the promises made to industries and traders even after implementation of the GST system, the Minister said that this system would not only benefit the States directly, but would also benefit the industrial and trade sectors, apart from the consumers. He said that as the GST Bill has been passed, the Prime Minister, Mr. Narendra Modi, and Union Finance Minister, Mr. Arun Jaitley, had paved the way for decrease in inflation, increase in GDP, more transparency in the system, increase in accountability and curbing of corruption. He said that foreign investors were also keen for implementation of this Bill and asked him about the system during his tours to the US, Japan, Singapore, Australia and Canada.
While referring to the recommendations of the Seventh Pay Commission, he said that the State Government had already made provision of Rs 4,000 crore for this purpose. These recommendations would be implemented in Haryana along with their implementation at the Centre. While the present Central Government has notified the Seventh Pay Commission within six months, the previous UPA Government took more than two years to notify the Sixth Pay Commission. He said that necessary steps would soon be taken on the recommendations of the Commission.
Replying to another question, he said that Haryana used to lag behind in sharing data with the Central Government. However, the pace of work in this regard has been accelerated after the present State Government came into power and now Haryana is considered to be an example for other States to follow in this regard, he added.