News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax | PPE Safety Kit SITRA Approved | PPE Safety Kit
Service Tax »
 I-T dept makes new utility for banks, POs to check TDS rate on high value cash withdrawals
 Tax department allows one-time verification of past income tax returns by September 2020
 You have time till 30 Sept to rectify incomplete tax returns of last five years
 Income Tax Department launches tool for Banks to ascertain TDS applicability rates on cash withdrawals
 How to check TDS amount online: Step-by-step guide
 Know which office perks are taxable under new tax regime
  Filing belated income tax return for 2018-19? Here is how you can file it online
 All digital Income Tax refunds: Govt disbursed Rs 62,361 crore as direct tax refunds in April-June
 How to claim income tax deduction for investments made in April - July 2020
 Home loan moratorium can affect tax benefits
 Income Tax Saving options: Invest in these schemes to save money in last minute

GST will drive country's revenue, encourage voluntary tax payment
September, 03rd 2016

Prime Minister Narendra Modi, in an exclusive interview to Network18, said that the recently-passed Goods and Services Tax (GST) bill will simplify processes for the common man and boost the country's revenues thereby aiding overall development.

Modi said, earlier people were unwilling to pay taxes because of the country's complicated multiple taxation process. However, the introduction of GST will encourage people to pay taxes of their own accord, the Moneycontrol report said citing the Network18 interview.

Modi said the passage of the biggest finance and taxation reforms in India will benefit the common man, as it would bypass the additional cess of taxes, for instance when eating out in restaurants, the report said.

Besides this, the introduction of GST will simplify the octroi process, which would ease movement of goods within states as well as reduce the mistrust between center and states owing to one taxation system. It will make the whole process transparent, the PM said in the interview.

It seems the government could well be on course to meet its deadline of implementing the GST by the start of next financial year. The Odisha Legislative Assembly on Thursday unanimously ratified the Constitution Amendment Bill for Goods and Services Tax (GST), paving way for introduction of the landmark tax reform, becoming 16th state to ratify it.
Ratification of the Bill by at least half of the total states was mandated before it is sent for the President's nod.

Home | About Us | Terms and Conditions | Contact Us | PPE Kit SITRA Approved | PPE Safety Kit
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting