GST will be a simplified Taxation system- Jaitley told CAIT

Arun Jaitley, Union Finance Minister India, Confederation of All India Traders, CAIT, Praveen Khandelwal, GST, Goods & Services Tax
New Delhi : While talking to a delegation of the Confederation of All India Traders (CAIT) at his residence on Saturday here, Union Finance Minister Arun Jaitley sai, "The proposed Goods & Services Tax (GST) will be a simplified taxation system which will eradicate miseries being faced by trading community in present taxation system. The GST will end the cobweb of various taxes levied at different stages from production to distribution and will also bring an end to multiple Authority taxation regime," 
Jaitley also released a public advocacy Book " India moving Towards GST" published by CAIT.

The CAIT delegation led by its National Secretary General Praveen Khandelwal comprised of several senior trade leaders including Om Praksh Sharma, Vice President, Delhi CAIT and MLA, Delhi, Narender Madan & Ramesh Khanna, Chairman & President respectively of CAIT, Delhi State, Suresh Bindal, President, Delhi Hindustani Mercantile Association, Pramod Aggarwal, Vice President, CAIT, Delhi.

​The CAIT will be holding a National Convention on GST very soon at New Delhi and it has extended an invitation to Mr.Jaitley to address the said Conference which will be attended by leaders of prominent Trade Federations, Associations and Chambers from all over the Country. We have apprised the Finance Minister with our apprehensions and he has assured to look into-said Khandelwal.​

Earlier while presenting a memorandum on proposed GST, the delegation urged the Finance Minister to get the tax bifurcated between Central & State Governments through computerised system and traders may not be held as a subject to multiple Authorities. 

While advocating a reasonable tax rate under GST, the delegation also said that levy of 1% Additional tax on inter-state transactions should be reconsidered as it will have a cascading effect since traders will not be able to obtain input tax credit on the same. The CAIT also stressed the need of a nationwide awareness campaign on proposed GST for disseminating  information on proposed GST.

Jaitley while giving a patient hearing to the delegation said that once the GST Bill is passed by Parliament and subsequently by State legislatures, separate Bills for CGST and IGST will need to be passed by Parliament and SGST Bill will be passed by State legislatures and at that time the stakeholders will be consulted and their apprehensions will be suitably addressed. 

He also informed that GST rates will be finalised by GST Council comprising of Union & State Governments Finance Ministers. Jaitley said that GST is aimed to avoid distortions in tax regime due to multiplicity of taxes & exemption and at the same time will give every opportunity to traders and other stakeholders to make a voluntary compliance which will result into widening of tax base. "The Government is committed to provide a hassle free taxation system under GST.

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