Current trends in Indian Economy
North East is the biggest beneficiary of GST
- Assam was the first state to ratify the GST Act, four days after it was passed and since then there has been a 12 times increase in the collection of taxes and the northeastern states have benefited from the GST.
- According to the 2023 RBI report on state finances, the eight NE states have registered a compounded annual GST hike of 27.5 percent, the finance minister said in Guwhati.
- The GST’s principal largely is on the basis of tax & consumption not just tax on the basis of where it is produced.
- As a result, unlike the central sales tax, which is the origin base tax, GST is a destination based tax.
About Assam
- Governor – Gulab Chand Kataria
- Chief Minister – Himanta Biswa Sarma
- Capital – Dispur
