Vijyender Sharma
SHIMLA-----Trade & Industry in the Country have come forward now to launch a joint campaign across the Country to appeal political fraternity to give safe passage to The Constitution Amendment (122nd) Bill pertaining to Goods & Services Tax in Parliament which is considered as one of the biggest tax reforms in India.
Traders body the Confederation of All India Traders (CAIT) and Industry bodies FICCI, CII, ASSOCHAM & PHD Chamber have join hands together for the first time to launch the campaign by holding a Conference on GST on forthcoming 16th December,2016 at New Delhi which will be addressed by Union Finance Minister Mr. Arun Jaitley. Chief Economic Advisor Mr. Arvind Subramaniam and other senior government officials will also attend the Conference.The joint campaign is derived with an idea of reaching out to political parties and trade and industry to apprise them about the advantages and benefits of GST that could be accrued if implemented early.
CAIT Secretary General Mr. Praveen Khandelwal said that trade & industry in the Country is deeply webbed into plethora of tax laws, rules and regulations coupled with multiplicity of Authorities. GST is nothing but a ray of hope for them to get rid of such a complex taxation system since it will integrate various Central and State level taxes paving the way for a simplified and rationalized tax structure in the Country which is need of the hour and hopes to abolish colonial working of tax administration system.
GST regime intends to create a harmonised system of taxation by subsuming all indirect taxes under one tax. It seeks to address challenges with the current indirect tax regime by broadening the tax base, eliminating cascading of taxes, increasing compliance, and reducing economic distortions caused by inter-state variations in taxes.
Though trading community also has its reservations on some of the proposed GST proposals but once the Bill is passed in the Parliament, we shall have the opportunity to place our views & concerns before the Government when separate legislation for Central GST (CGST), & Integrated GST (IGST) will be placed in Parliament and State GST (SGST) will be a The stalling of GST Bill in Parliament is depriving us from the opportunity of being heard.
The passing of GST Bill in Parliament will pave the way for discussion on procedural modalities of GST which is of utmost concern to trade and industry
Contact Number is 09736276343Mobile
No comments:
Post a Comment