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India Inc should work for July 1 GST roll out: Fin sec
30
Mar '17
The Goods and Services Tax (GST) will take India into a very exciting phase of tax administration and all the Indian companies should work towards ensuring July 1 roll out of the bill, said finance secretary Ashok Lavasa. He also said that along with the government, the industry should also organise training sessions for the trade and industry.

"We should all work towards July 1, if it gets achieved," said Lavasa at a managing committee meeting of The Associated Chambers of Commerce & Industry of India (ASSOCHAM) held in New Delhi.

Chamber president Sandeep Jajodia informed the finance secretary that ASSOCHAM has already held over 55 conferences in different parts of the country on GST.

Lavasa also said that efforts are on to save projects, which have run into rough weather because of events beyond control of individuals or industries.

Speaking of the impact of GST on the market, Anshuman Magazine, chairman, India and South East Asia, CBRE said, "This is a significant moment in our country's economic history. With the passage of India's biggest tax reform in decades, we will become a unified market, with one tax for all goods and services. Once implemented, GST will significantly ease the ambiguity around our taxation system, promote ease of doing business, encourage more Foreign Direct Investment and stimulate overall growth of the economy.“ (KD)

Fibre2Fashion News Desk – India


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