Speaking during the seminar held by Chhattisgarh Chamber of Commerce and Industries (CCCI), Finance Minister Piyush Goyal said that the past one year of GST was quite good and the government managed to get sufficient revenue from the indirect tax. Goods and Services Tax (GST) has proven to be a simplified tax structure which has resulted in an increased revenue for the government and has also made it easy to do business.
“The GST in the past one year has successfully worked and has generated ample revenue. This year there won’t be a dearth of revenue if people continue to be a part of this system and pay their taxes. Just when people pay their taxes correctly, the government will be more empowered to reduce the rates even further, making the mechanism simpler,” Goyal said.
While addressing the delegation, Goyal clarified that the reason for the digitisation of the tax system is to stop the Government and other entities to interfere in the business of the Finance Ministry.
He also claimed that GST has proven to be the most transparent and honest tax regime that India has ever seen. It has helped the Indian business community to grow ahead. He also admired the way traders in the country have adopted the reformed tax system.
The Finance Minister added that the government is also planning to withdraw most of the tax-related cases going on in the Supreme Court. “The government has decided to withdraw almost half of the Supreme Court cases relating to the taxation. Most of the cases in the Supreme Court are of small and medium scale businessmen,” Goyal added.
