States interests taken care in GST

Bhopal: Finance and Commercial Tax Minister Jayant Mallaiya has said that state's interests have been taken care in goods and service tax (GST). All required arrangements have been made for implementing the GST from July 1 in the state. He said that GST law is the major change in economic sector after 70 years of independence. Mallaiya said that GST is the best example of federal structure of the country. Finance Minister Mallaiya was addressing seminar on GST at Ravindra Bhavan in Bhopal today. Principal Secretary commercial tax Manoj Shrivastava, commissioner commercial tax Raghvendra Singh and tax consultants were present in the seminar.

 Finance Minister Mallaiya said that long discussion was held on GST in last 17 years. Decisions have been taken so far unanimously. Representatives of the centre and states have taken decisions in GST Council considering the interests of common public. He said that GST won't increase inflation. Goods have been divided in different sectors for deciding tax rates in the GST. Finance Minister said that tax system will be simplified because of GST and tax evasion would be curbed.

 Principal Secretary commercial tax Manoj Shrivastava said that tax system affects the system in any country at larger extend. Examples of this can be seen in history. He said that one country-one tax would accelerate progress in the country more.

 Commissioner Commercial tax Raghvendra Singh said that seminars were held at small places to convey the concept of GST in Madhya Pradesh. He said that every trader should understand GST and convey information in this regard to public. CA Anoop Shrivastava, Additional Commissioner Custom R.S. Maheshwari and CA S Krishnan also addressed the seminar.-WTN