New Delhi, June 27 (KNN) Union Minister Jitendra Singh has assured the North Eastern states that unlike the misconceived notions in certain quarters related to GST, the Goods & Services Tax (GST) will offer these States an opportunity to realize fiscal growth in tandem with the more developed states of India and thus make up for their own shortcomings.

Eight states of Northeast region are among the states which are likely to benefit from the GST rollout on the midnight of June 30th and July 1st, Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER) Singh said.

He was holding a media interaction on GST rollout. Earlier, while addressing a congregation on the theme "Development of North-Eastern Region" organized by National Housing Development Organization at Pragati Maidan, he said, the Union Government’s target of "Housing for All by 2022" will also gain momentum through reinforced State ex-chequer, consequent to the supplementation of the tax-pool following the implementation of GST.

When asked about the possible inconveniences during the early transition phase after July 1st, Singh said, there is no need either to panic and said, it is only like any other transition in one’s routine happening at any other level as well, like, for example, whenever an individual or family changes the place of residence, in that case too, there are initial hesitations and it takes time to get used to the new order.

Singh also emphasized the need to highlight that with the kind of exemption limit available, many of the traders and many of the middle-class businessmen may not fall in the gambit of GST and thus may not have to pay any tax.

Similarly, those trading in exempted items like Dal / Pulses etc, would also be required neither to pay tax nor to file return.