Discuses the Positive Implications GST on Trading Community
BJP senior leader and MLC Vibodh Gupta held a meeting with the trader community of Rajouri and discussed implications of GST (Goods and Services Tax) on the trading community. During this discussion trading community put forth various apprehensions before the MLC and said that they need much more information on the GST. During the meeting Vibodh gave details of positive implications of GST once it is rolledout in state as well as in other parts of the country. While reacting to these views of the trading community Vibodh informed that this landmark decision of the Government will make life easier and simpler as GST will replace 17 indirect tax levies and compliance costs will automatically fall. He further added that revenue will get a further boost as, Tax Evasion is set to drop – Input tax credit will encourage suppliers to pay taxes – States and Centre will have dual oversight – The number of tax-exempt goods will decline. He informed the trading community that manufacturing will get more competitive as GST addresses cascading of tax, inter-state tax, high logistics costs and fragmented market. Thus increased protection from imports as GST provides for appropriate countervailing duty. While giving details about the impact of GST on transport sector Vibodh said that another beneficiary of GST will be the transport sector. The goods and load carrier drivers and transporters will have a sigh of relief as this will remove the multiple checks at state borders for the paying of taxes. This will improve the efficiency of the vehicle movement across the country.
Vibodh informed the gathering that as the state legislature prepares to pass the constitutional amendment paving the way for the goods and services tax (GST), the reform is expected to bump up the economy of the state . While reacting to some recent statements of the opposition National Conference, Hurriyat and some vested business centres in Kashmir, Vibodh said that these parties and organizations are opposing the GST because they never want to see this state as a developed state. Instead these people are trying their best just to safeguard their vote bank by ensuring that our state never moves ahead on the path of development in line with the other states of the country. Prominent among other who were present in the meeting included Kamal Bakshi, Ranjeet Tara, Darbar Choudhary, Ashwani Kochar, Vijay Gupta, Vacky Dutta, Gulam Hussain and Raju Dutta.