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Ensure GST benefits pass on to state Govt to depts

Ensure GST benefits pass on to state Govt to depts

12 Oct 2017 No comment 26 hits

Panaji: To ensure that the government benefits from the rollout of the goods and services tax (GST) and reduce public expenditure, the finance department on Thursday asked all government departments to ensure suppliers and contractors pass on GST benefits to the state.

The state government wants all departments to be vigilant and examine bills submitted by suppliers or generated by various departments to ensure that GST is properly calculated.

The office memorandum asked drawing and disbursing officers (DDOs) in departments receiving bills from vendors and suppliers to ensure that the benefits availed by suppliers through 'input credit tax' was passed on to the state government.

Suppliers of goods or services can claim input tax credit and receive a refund of the tax paid on the material procured during the course of supply and installation of a particular product.

"Any benefit of the new tax regime, availed by a supplier needs to be passed on to the government and vice versa any resultant increase in rates or pricing on supply of goods and services needs to be reimbursed to the supplier," under secretary for finance, Sushama Kamat, said.

In its directive, the government urged DDOs to exclude value-added tax (VAT) and central sales tax (CST) that used to be charged for supplies or labour contracts.


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Source: Ensure GST benefits pass on to state Govt to depts

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