June 16, 2017
Central Excise Commissioner V Rajendran said implementation of GST will help traders by ending long waits at check posts, thereby speeding movement of goods. This should add to business efficiency.
At a session on ‘GST implementation – critical issues’ organised by the Indian Chamber Of Commerce and Industry here, he said production and export will also increase. “GST will end one tax over another tax system which is currently prevailing,” he said, adding that it would be of more help to middle and lower income people. Movement of goods will be monitored under the GST regime.
ICCI Coimbatore President Vanitha Mohan said there were many concerns, mostly among small traders, and that was the main reason behind such a session. She also said that regular classes were being conducted by chamber to help traders have a smooth transition to the new system.
Former ICAI president G Ramasamy said GST would bring more transparency in the tax reforms. Former Joint Secretary of Tax Research Unit under the Ministry of Finance R Sekar said GST was a tax revolution and would have a positive impact on all. He said he was part of GST talks from 1997 and then it was planned as dual GST. “GST requires extraordinary tax discipline and IT plays a most important part,” he added.
Tirupati Additional Commissioner of Central Excise and Service Tax P Muthusamy and IRIS Business Service CEO S Swaminathan also addressed the gathering.
GST will be implemented from July 1, 2017.