Talk on latest developments in GST
Updated: Mar 12, 2014 01:40:45pm
Panaji, Mar 12 (KNN) The long-pending Goods and Services Tax (GST), touted as India's most far-reaching reform of indirect taxes, is likely to be implemented after the general elections this year.
To provide insights about the latest developments in the draft GST (Goods and Services Tax) proposals, Goa Chamber of Commerce and Industry (GCCI) is organising a talk by Chief Commissioner of Central Excise and Service Tax, Mumbai Zone, V S Krishnan on March-14 here, according to a notice from Director General, GCCI, R S Kamat.
Krishnan is a Presidential Award winner and author of “Indirect Tax Reforms: Challenge and Response.”
The proposed GST aims to replace multiple indirect taxes in India such as central excise, additional excise, value-added tax and service tax. Uniform taxes will be levied by the central and state governments through a common system of tax collection and the introduction of the GST is a key reform measure that could have immense macro implications for India's growth potential.
The biggest positive from the introduction of GST would be higher revenue for the government that would come from broadening the tax base and increasing compliance. Higher tax collection obviously implies a lower fiscal deficit and hence is positive for the economy.
A broad consensus on earlier contentious issues is now in place and the current delay seems largely political and various stakeholders indicate that the GST is likely to be implemented after the general elections.
The event has been organised with the help of Commissioner of Customs, Goa, V P C Rao. (KNN/ES)
To provide insights about the latest developments in the draft GST (Goods and Services Tax) proposals, Goa Chamber of Commerce and Industry (GCCI) is organising a talk by Chief Commissioner of Central Excise and Service Tax, Mumbai Zone, V S Krishnan on March-14 here, according to a notice from Director General, GCCI, R S Kamat.
Krishnan is a Presidential Award winner and author of “Indirect Tax Reforms: Challenge and Response.”
The proposed GST aims to replace multiple indirect taxes in India such as central excise, additional excise, value-added tax and service tax. Uniform taxes will be levied by the central and state governments through a common system of tax collection and the introduction of the GST is a key reform measure that could have immense macro implications for India's growth potential.
The biggest positive from the introduction of GST would be higher revenue for the government that would come from broadening the tax base and increasing compliance. Higher tax collection obviously implies a lower fiscal deficit and hence is positive for the economy.
A broad consensus on earlier contentious issues is now in place and the current delay seems largely political and various stakeholders indicate that the GST is likely to be implemented after the general elections.
The event has been organised with the help of Commissioner of Customs, Goa, V P C Rao. (KNN/ES)
Loading...
