Placeholder canvas

Implementation of GST will help trade, industry: Official

Date:

\     Kochi, Oct 28 (PTI) Implementation of GST will help\trade and industry and there is no need to have any room of\concern about its implementation, a top official said here\today.\     \\"GST is indeed a good tax,\\" Pullela Nageswara Rao, Chief\Commissioner of Central Excise, Customs and Service Tax,\Kerala, said.\      He said state will collect a part of it and the Centre\will collect one part.\      \\"Nothing that would harm or hurt you will happen.\ This will definitely help the growth of trade and\industry,\\" Rao said.\      He made this observation during his inaugural address at\the one day awareness workshop on \\’GST and its Implications\\’\organised by Federation of Indian Chambers of Commerce and\Industry (FICCI) along with KPMG in Kochi.\     \\"With the implementation of GST, Central Excise and all\such organisations will change our role from enforcement\agency to facilitation agency. Let\\’s slowly break the old laws\and go for the new ones,\\" a FICCI release quoting Rao said\here.\     The GST, which has already been approved by the President\of India, is scheduled to be implemented across the country\from April 1, 2017.\      It replaces all indirect taxes levied on goods and\services by the Centre and States, making for a single, easier\taxation system.\      There are 60,000 Central Excise and Customs and state\government officers who will be trained for the switch to GST,\a tax system practised in 160 countries.\      S Sivankutty, Deputy Commissioner (Intelligence),\Commercial Taxes, Central Zone, Ernakulam in his introductory\address commented that in the globalised situation we have to\capture the market.\       Described as a system that will create transparency and\credibility, the GST is expected to bring in numerous changes.\       The GST single taxation system will increase ease of\doing business, pointed out Deepak L Aswani, Co-Chair, FICCI\Kerala State Council.\      \\"This will be a significant step with the benefits\passed on to the consumer,\\" he said.\      Sachin Menon, FICCI Co-Chair- GST, Partner and Head,\Indirect Tax, KPMG in India, said, Kerala being one of the\highest consuming states, it will be one of the largest\beneficiaries of introduction of GST.\     \\"This will improve the finances of the state\Significantly. Kerala is seen as one of the most vocal states\in the GST council today and by taking the lead in spreading\awareness of GST, it reiterates its commitment to implement\GST,\\" he said. PTI TGB\RC\

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

From Deepfake Concerns To India’s AI Mission PM Modi Interacts With Bill Gates

New Delhi: Prime Minister Narendra Modi engaged in a...

NewsMobile Morning Brief

Actor Govinda Joins Eknath Shinde’s Shiv Sena Ahead Of...

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...

IPL 2024: Rajasthan Royals Defeat Delhi Capitals By 12 Runs

Jaipur: Rajasthan Royals clinched a 12-run win over Delhi...