GST rollout on July 1; will create several jobs for youth: Adhia

Shubhanshu Sharma

Shubhanshu SharmaBy Shubhanshu Sharma

Published on 30 May 2017 8:05 PM GMT

GST rollout on July 1; will create several jobs for youth: Adhia
X
GST will not cause any pain after three months, assures Adhia
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • koo
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • koo
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • koo

Bengaluru: Exuding confidence of a July 1 rollout of Goods and Services Tax (GST), Union Revenue Secretary Hasmukh Adhia on Tuesday claimed that the new tax regime would create lot of jobs for youth.

"The GST will certainly be implemented from July 1 and will help in creating lot of jobs for young generation," said Adhia at a Town Hall meeting with stakeholders, including tax assesses, traders and representatives of trade unions here.

Noting that the new tax system would be a game changer, he said that GST would help in converting the economic energy into real growth, as the country's economic potential was much higher.

"GST will lead to ease of doing business, allow compliance with its various provisions, bring in uniformity of different tax laws and rules and transfer of input tax credit," he said.

In response to a query on the four rates (5, 12, 18 and 28 per cent) at which the GST would be applied to diverse goods and services, Adhia hinted that they could be rationalised on justified considerations.

On the concerns of the food processing sector, he said a decision on the rates for foodgrains like wheat and rice would be taken in the next GST Council meeting on June 3.

Also Read: Madras HC stays ban on sale of cattle; Centre hints to reconsider order

Observing that the GST was a major customer-friendly indirect tax reform, Karnataka Agriculture Minister Byre Gowda said the government's intention was not to increase taxes but revenue through transparency, simplification and efficiency in tax administration.

"GST will also help in curbing tax evasion and lead to tax buoyancy," he said.

The inter-active session was jointly organised by the Chief Commissioner of Central Excise and Service Tax, Central Board of Excise & Customs and the Commissioner of Commercial Taxes, Karnataka as part of GST's Outreach Programme.

With IANS Inputs

Shubhanshu Sharma

Shubhanshu Sharma

Writer has 6 years of experience in digital media. Presently working as Senior Sub Editor at newstrack.com. An avid reader and always willing to learn new things and techniques.

Next Story