Published On : Tue, Aug 30th, 2016

VTA praises passing of GST by Maharashtra State

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Vidarbha Taxpayers Association (VTA) welcomed ratification of the Goods and Services Tax (GST) Constitutional Amendment Bill by the Maharashtra Legislative Assembly in a special one-day session of the state legislature which was passed unanimously by the Lower House, taking a step forward towards its implementation.

J. P. Sharma, president of VTA said this is biggest reform in India since independence and longtime demand of trade and industry to enact GST which will transform the country into a “seamless” market, boosting economic growth and cutting the cost of doing business. However proposed tax rate set at around 27 per cent is quite high as compared to global average of 16.4 per cent for similar taxes.

Shrawankumar Malu, vice president of VTA said that multiple taxes like octroi, sales tax, entry tax, excise, service tax, license fees, turnover tax etc will no longer be present and all that will be brought under the GST; doing business will definitely be easier on enactment of this globally successful tax pattern.

Tejinder Singh Renu, secretary of VTA said that this is another major step forward towards ease of doing business as GST will reduce numbers of indirect taxes. This will make country as one huge market with clarity giving enormous advantage to consumers as well of saving time. Biggest advantage will be to Nagpur as we being centre of the country with well connected road rail network, we’ll become the main hub for entire country due to such location advantage.

VTA appeals to the Union Government that GST may please be enacted as planned from 1st April 2017, however all precautions, training to officers, clarity, distribution of work, etc should be carried well in advance; without extensive training and robust system we should not move in hurry so that it causes hurdles rather than ease.