HDFC Bank to organise 500 GST workshops for traders
- Author: Leroy Wright Jun 23, 2017,
Jun 23, 2017, 19:45
"Deshmukh said, "GST is consumption-based which many people do not know".
Reserve Bank of India Governor Mr. Urjit Patel today expressed optimism that GST would eventually reduce taxes and inefficiencies within states and broaden the tax base making it an important part of digital revolution.
The Goods and Services Tax (GST), to be rolled out from July 1, was expected to have a positive impact on the economy of the state and the nation, Isaac told reporters here while elaborating the steps taken by the state government for the new tax regime.
Tally Solutions said the company now has to gear up how best it can help user adapt to the GST system.The product, a simple and easy to understand, has been designed with a user friendly interface that will make them GST compliant from day 1, the firm said.
"All the sectors had technical issues about the GST, which have been largely resolved across the table in this meeting, except two issues where more consultations are required". "It is going to be highly beneficial for the state", he said.
"This game-changing reform will result in significant ease of doing business as well as reduction in the overall tax burden on consumers", the statement said. "So, there is no room for price hike.prices of goods will come down", he said.
"I don't see any possibility of a spike in the power tariff due to the implementation of the Goods and Services Tax". If there is a service tax on the ticket, the total ticket price will increase by 4.5 percent to 5 percent.
The Cabinet also expressed its gratitude to the GST Council, to the heads of all national and state level recognised political parties, to all Members of Parliament, to all Members of State Legislatures and to all sections of society including trade and industry associations.