GST meet may resolve gold taxation issue: Thomas Isaac

The Udaipur session of the GST council is expected to resolve the issue of taxation on gold, Finance Minister Thomas Isaac has said.
Express file photo of Finance Minister Thomas Isaac speaking at a seminar on  ‘Islamic Banking’ in Kochi.
Express file photo of Finance Minister Thomas Isaac speaking at a seminar on ‘Islamic Banking’ in Kochi.

THIRUVANANTHAPURAM: The Udaipur session of the GST council starting on Saturday is expected to resolve the issue of taxation on gold, Finance Minister Thomas Isaac has said. “The session will also discuss the list of goods to be exempted from taxation. The state will reveal its stand on the issue at the meeting,” he told reporters here on Friday.

After GST implementation the Commercial Taxes Department will shut down the border check-posts. But the state will have a mechanism to prevent tax evasions, said the minister.

“The plan includes setting up of surveillance cameras at entry points to the state through which officers can learn the registration number of goods vehicles entering the state. Action will be taken if an invoice bearing the vehicle’s number is not found on the GSTN portal,” he said.  

Isaac said a trial run of the system will be done at the Walayar border. The state aims at a 20 percent increase in tax revenue next year.    

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