Team Herald

PANJIM: Chief Minister Manohar Parrikar emphasised that the Department of Commercial Taxes is fully geared to migrate to the GST regime. It is anticipated that the State will gain. “Any shortfall will be compensated by the Union government,” said Mr Parrikar.

The prices of petrol in Goa are significantly lower compared to the neighbouring states. The new government felt the need to have a relook in this and has proposed to enhance the rate of VAT on Motor Spirit to 15%.

“Even with this increase the price of petrol will be in the range of Rs 65 per litre,” said Mr Parrikar.

“To provide some relief to all dealers under VAT and other commercial taxes, I propose to waive off the renewal fees as applicable,” added Mr Parrikar.

As a measure to promote airlines to connect with Goa, which in turn will promote tourism, the new govt proposed that it will reimburse VAT on aviation turbine fuel, in excess of one per cent. A detail scheme will be formulated in this regard. As a green initiative, “I propose to exempt VAT on sale of electric vehicles,” announced the finance minister.

“Considering the current position, where there is an effective monitoring and regulatory framework in place for mineral ore sales and export, I propose to allow Input Tax Credit on sale of mineral ore by omitting this entry from Schedule ‘G’,” announced Mr Parrikar.

The new government has proposed to marginally enhance the Excise Duty on beer manufactured in the State of Goa or imported from the rest of India or from outside India and sold in the State. “Further, I propose to marginally reduce the export fee on Beer to 50 paise per bulk litre,” added Mr Parrikar.

“I propose to make a provision to enable issuing license for possession and sale of molasses, and accordingly, levy a license fee of Rs 25,000, as well as, a fee of processing the application for license of Rs 25,000,” said Mr Parrikar. 

He also proposed to levy an additional fee of Rs 1 lakh to the manufacturer of high bouquet spirits who imports concentrated alcoholic beverages, for the purpose of sales to other manufacturers; within or outside the State. An export fee of Rs 10 per bulk litre will be levied on the sale.