“GST a historic Step towards Development”
As part of the celebration of 37th Foundation day of Bharatiya Janata Party (BJP), BJP Doongi block organized a function to celebrate Foundation day. Speaking on the occasion Vibodh said that all the party workers must never forget that in BJP, party is ‘bigger’ than individuals and the motherland is more important than the party.
He further added that,the decks are cleared for the roll-out of the goods and services tax (GST) from 1 July after the Rajya Sabha signed off on all four supporting bills on Thursday without making any amendments. The Central GST Bill, 2017; The Integrated GST Bill, 2017; The GST (Compensation to States) Bill, 2017; and The Union Territory GST Bill, 2017 were passed after negation of a host of amendments moved by the opposition parties.
He said that it is a biggest taxation reform since Independence, GST will subsume central excise, service tax, VAT and other local levies to create an uniform market. GST is expected to boost GDP growth by about 2 per cent and check tax evasion. It also help GST-registered businesses to claim tax credit to the value of GST they paid on purchase of goods or services as part of their normal commercial activity. Taxable goods and services are not distinguished from one another and are taxed at a single rate in a supply chain till the goods or services reach the consumer. Administrative responsibility would generally rest with a single authority to levy tax on goods and services. Exports would be considered as zero-rated supply and imports would be levied the same taxes as domestic goods and services adhering to the destination principle in addition to the Customs Duty which will not be subsumed in the GST.
Terming the present era as corruption free era, Gupta said that good governance was the basic agenda of this government and Modi has succeeded in making administration neat and clean by flushing out corrupt mechanism . He said that when boss is honest and dedicated, the team automatically start work with honesty and dedication. He said that an environment of honesty has been created and people have started feeling good in this environment. He said that a big change is being seen on the ground level in the governance system. Further said our government’s commitment towards eradicating black money is very strong and they are taking every step to get rid of the black money menace.He added that,tha result of election of five states proves Demonitization a successful drive started by Modi government against Blackmoney.
Other who were present on the occasion include Ranjeet Tara,Sanjay Sharma,Pashori Sharma,Kamal Bakshi and others.