Deputy commissioner Amritsar Kamaldeep Singh Sangha while appreciating GST said, it is a significant step towards indirect tax reforms, which will amalgamate a large number of central and state taxes into one tax and prevent double taxation to pave the way for a common national market.
He informed that from consumer point of view, the biggest advantage would be in terms of a reduction in overall tax burden on goods, which is currently estimated at 25-30%. He mentioned that the industry should have a positive outlook towards it and urged industry members to migrate to GST, while he was speaking at the seminar on Registration, Payment, Returns & Refunds under GST organized by PHD Chamber, Chandigarh, in association with Konrad-Adenauer-Foundation (KAF) on 28 April, here today.
Speaking on the occasion, Commissioner Central Excise Division, Amritsar, B L Meena said that the introduction of GST will be significant step that will bring uniformity in the tax system apart from bringing more business opportunities and ensuring ease of doing business. He added, the benefits of the lower cost of production will be passed on to the consumers which in turn will help in lowering the inflation.
Welcoming the participants, Ms. Madhu Pillai, Resident Director, PHD Chamber said the seminar has come at an apt time when both the government and industry are pushing hard for a speedy implementation of the Goods and Services Tax. She stated the seminar is being organized to enlighten Industry members and to smoothen the implementation process.
In his address, Deputy Excise and Taxation Commissioner, DETC (GST) Head office Pawan Garg, said, the new tax regime will be an effective step towards improving revenue generation by increasing the tax base and reducing the tax liability. It appears to be a ‘win-win’ situation for the government, businesses and the consumers.
Since, government will have higher revenue collections and encourage foreign investors to “Make in India”; it will improve the fiscal deficit state of the country.
A calibrated introduction, hi-tech cyber backend support and judicious implementation of this biggest tax reform since independence, will be required to ensure its flawless and smooth functioning.
Speaking on the occasion, Chairman of PHD Chamber’s Punjab Committee RS Sachdeva, said that GST will redefine the way the indirect taxes are being handled in India. He further added that more significant is the fact that GST will increase the tax revenue for the state governments due to better compliance. The GST will also reduce the barriers between states. It will make the country a common market place.
He informed that from consumer point of view, the biggest advantage would be in terms of a reduction in overall tax burden on goods, which is currently estimated at 25-30%. He mentioned that the industry should have a positive outlook towards it and urged industry members to migrate to GST, while he was speaking at the seminar on Registration, Payment, Returns & Refunds under GST organized by PHD Chamber, Chandigarh, in association with Konrad-Adenauer-Foundation (KAF) on 28 April, here today.
Speaking on the occasion, Commissioner Central Excise Division, Amritsar, B L Meena said that the introduction of GST will be significant step that will bring uniformity in the tax system apart from bringing more business opportunities and ensuring ease of doing business. He added, the benefits of the lower cost of production will be passed on to the consumers which in turn will help in lowering the inflation.
Welcoming the participants, Ms. Madhu Pillai, Resident Director, PHD Chamber said the seminar has come at an apt time when both the government and industry are pushing hard for a speedy implementation of the Goods and Services Tax. She stated the seminar is being organized to enlighten Industry members and to smoothen the implementation process.
In his address, Deputy Excise and Taxation Commissioner, DETC (GST) Head office Pawan Garg, said, the new tax regime will be an effective step towards improving revenue generation by increasing the tax base and reducing the tax liability. It appears to be a ‘win-win’ situation for the government, businesses and the consumers.
Since, government will have higher revenue collections and encourage foreign investors to “Make in India”; it will improve the fiscal deficit state of the country.
A calibrated introduction, hi-tech cyber backend support and judicious implementation of this biggest tax reform since independence, will be required to ensure its flawless and smooth functioning.
Speaking on the occasion, Chairman of PHD Chamber’s Punjab Committee RS Sachdeva, said that GST will redefine the way the indirect taxes are being handled in India. He further added that more significant is the fact that GST will increase the tax revenue for the state governments due to better compliance. The GST will also reduce the barriers between states. It will make the country a common market place.
CA Vinamar Gupta, GST Consultant, Kumar Gupta & Co. and Shri Pawan Pahwa, Partner, Panacea Legal Services, Chandigarh addressed the delegates on Registration, Payment of Tax under GST; Invoice and Returns under GST; Refunds under GST besides covering Details on e-way Bill, Input Tax Credit- Norms and Provisions; Transitional provisions and Norms on Gifts/Shortage/Sampling during the seminar.
Source : Punjab News Express