Shillong, June 30: As the country gets ready for the midnight launch of Goods and Services Tax (GST). Meghalaya is ready to implement the Goods and Services Tax (GST), which will be officially launched in Parliament on June 30 midnight.
Consultative meetings and workshops had taken place in Meghalaya since the GST Bill was passed in Parliament.
GST is an indirect tax that will replace taxes levied by the central and the State governments.
About 6,000 traders in Meghalaya have registered so far for the new tax regime and the State has followed all instructions on GST, officials here said.
On the challenges in implementation, the officials said these could be ascertained after GST is rolled out.
Suppliers can register till July-end.
GST will be levied on all transactions such as sale, transfer, purchase, barter, lease, or import of goods and/or services.India will adopt a dual GST model, which means that tax will be administered by both the Union and the State governments.
State Minister in charge of Taxation Zenith Sangma is scheduled to attend the inauguration of the new tax regime in New Delhi on Friday. But it is not known whether he would attend the launch function as the Congress party at the Centre said that it would stay away from the historic mid-night session of Parliament complaining about the hurried manner in which GST is being ruled out.