Kohima, April 29 (EMN): The new economic law of India – Goods and Services Tax (GST) – which is being considered as a law for the common man is likely to become a game changer in the entire economy of the country.
Speaking at the awareness campaign on GST today at APO Hall, Kohima, Chief Commissioner of Central Excise, Customs and Service Tax, Shillong Zone, SK Panda, said India as a country will shine under the new law.
“With the new economic law, I see a new and a bright India,” Panda said while addressing a host of public leaders, businessmen and entrepreneurs.
Welcoming the GST, Panda said he was confident that lots of investment will come through it, wherein everybody will be benefitted from it.
The Excise official educated the gathering stating that many existing economic laws, which have been bothering the country over the years, will be put to rest once the new economic policy is implemented.
“Under the GST, over 40 economic laws will be put in one basket,” he said adding “the GST is very simple and easy to understand.” He went on to say that “the existence of too many laws hinders the economic progress of the country.”
Panda also stressed on the need for every citizen to be aware of GST. To this, he said “not only businessmen, but every section of the society including consumers, students and educationists also should be aware of what the GST will bring about.”
State Chief Secretary, Pankaj Kumar, who was the chief guest, also welcomed the GST with the hope that it will give more convenience to the business community.
“With GST, India will become a model for others. Through GST, we will have a system which will be similar to what is happening in western countries,” Kumar said maintaining “GST is not only good but efficient too.”
Educating the gathering on the merits and benefits of GST, the Chief Secretary expressed hope that Nagaland will be able to increase and enhance its revenue through GST, once it is implemented.
With Nagaland being a consuming state, the Chief Secretary also told the gathering that GST will be more favourable to the consuming states of the country.
He further urged the people of Kohima to participate in the trainings conducted by the concerned department. “If we give try, our private sectors will become much more efficient,” he said.
Earlier, Commissioner of Taxes, Asangba Chuba, sought the cooperation of the public towards this venture.
“For the GST to get materialised, we so much depend of the support of the people,” he said.
Sharing on the main features of GST, he informed that GST would be applicable on the supply of goods and services and be destination based consumption tax.
He also informed that GST will apply to all goods other than alcoholic liquor for human consumption and five petroleum products.
For any details, one may log on to www.nagalandtax.nic.in or www.cbec.gov.in. The awareness campaign on GST was jointly organised by Commissioner of Central Excise & Services, Shillong, Government of India, and Commissioner of Taxes, Government of Nagaland.
