By TIOL News Service

NEW DELHI, JULY 01, 2019: ON the occasion of GST Day, the MoS for Finance, Mr Aurag Thakur, stated that in GST the transition had been to levy taxes on supplies, and mechanisms to be brought in place in such a way that burden of GST does not fall on business but on the end consumption. By subsuming more than a score of indirect taxes under GST, the road to a harmonized system of indirect tax has been paved to make India an economic union, which has also significantly contributed towards higher efficiency and competitiveness.

The Minister further added that Prime Mister has rightly called GST as Good and Simple Tax. It is a shining example of GST having made India a true common market where the transport time and cost of moving goods across the length and breadth of the country have come down significantly. There are so many other positives that do not need reiteration. He has stated that all the decisions taken in GST Council are on consensus basis. He called upon all Officers to make GST in India the best GST available in the world. He has stated that the CBIC has done very good job for MSME sector. The NACIN has conducted GST training for all Officers apart from the support given to GST Practitioners. He has cautioned about fake invoices in GST bring bad name and urged the leaders of Industry to take corrective steps. Adding his concern over fake invoice menace, he added that “IMANDAR TAXPAYERS SE BAIR NAHIN, FAKE INVOICES WALON KI KHAIR NAHIN”. He summed up GST to be a WIN-WIN situation for all the stakeholders associated with the best tax GST.