The GST is ready to mark its footprint in India and there are several reason and questions regarding the implementation of the indirect tax regime. The CBEC officials recently raised concerns about the job losses due to the change of the nature of the job. But, Arun Jaitley convinced the officials that there is no need to fear job losses as due to the change of nature of the job, there are high chances of the creation of new jobs. GST will increase the economic activity by eliminating the indirect taxes like service tax,VAT and excise duty.
Jaitley added that the present jobs will not vanish but their nature and working methodology will change for sure. The present multiple systems of assessment will be changed into a newer version of simple assessment.
CBEC Chairman Najib Shah pointed out the matters of indirect tax officials on human resource issues by the introduction of GST to Arun Jaitley. Jaitley responded to the Chairman saying that there was no need to be troubled about job loss, the revenue collected under GST will be more and even though there were two tools of tax collection the GST single mechanism of tax collection will open gateways to more opportunities and hence a stress about job loss need not be initiated.
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The process will take time to settle in, but the change is significant for a better India and will change the tax system for good. Revenue Secretary Hasmukh Adhia also said that there is no need for worry to the concerned parties.
