State

FEDERATION HOLDS DISCUSSION ON SINGLE POINT GST

Monday, 21 May 2018 | PNS | Dehradun– The structure of the Goods and Services Tax (GST) implemented in a hurry in India still has various loopholes, opined former Cabinet Minister and Congress leader Dinesh Agarwal. He was speaking at a discussion on the subject of single-point GST organised by the Federation of All India Vyapar Mandal (FAIVM) here on Sunday. Addressing the gathering on the occasion, Agarwal expressed his support to the demand for single-point GST. He said, “The structure of GST which was implemented in a hurry in our country has many loopholes. This needs to get resolved so that people running a business can do their work with ease.” Local Bharatiya Janata Party leader Anil Goyal also expressed his views on the occasion. Speaking on the occasion, the FAIVM national general secretary VK Bansal said that the business fraternity which provides employment to about 44 crore persons is today itself staring at unemployment. Though the contribution of business to the national economy has increased considerably, the businessmen continue to face problems caused by impractical regulations of which the GST system is a recent example. The federation’s coordinator and Uttarakhand in charge Rajeshwar Painyuli said that the FAIVM, Delhi is undertaking a nation-wide campaign as part of which the government of India has been requested that GST should be collected from the producer on the maximum retail price while the retail and wholesellers should be freed from this. He said, “Our campaign received a boost with the prime minister Narendra Modi also took cognisance of the federation’s memorandum and delegated the Union Finance minister Arun Jaitley to reeive the presentation from us. Due to the ill-health of the finance minister, we made the presentation in front of the finance secretary Hasmukh Adhiya at the Finance ministry on April 17. The finance secretary did appreciate the concept of single GST but stated that since all articles are presently not at MRP, single-point GST doesn’t seem applicable at present as sought. More work will have to be done on the subject so that single point GST can become applicable for all.” Referring to single-point GST concept, he said, “It refers to the system of charging GST at the manufacturing level (in case of goods) or at the time of providing services. This is will reduce the task of checking every taxpayer while also saving the time of the seller helping him or her do better in business.”

Related Articles

Back to top button