The GST has been discussed worthwhile from every angle and aspect proving it to be the fruitful taxation regime of all time but along with it, there are various hurdles coming on its way in its implementation. Previous day West Bengal Finance Minister Amit Mitra was seen discontented with the timing of the implementation of GST on which the Union finance minister Arun Jaitley has given an adamant reply.
Arun Jaitley on Thursday said, “there was no question of going back on GST, adding that, “I am here to clarify that GST will definitely be implemented. I read some comments about demand for a reconsideration of GST. But if somebody goes through the constitutional amendments, he or she will understand there is no scope for such reconsideration.”
He was pressurizing the fact of the severity of the GST that it has taken all around the constitution and what place it has occupied in the given time period. Arun Jaitley said that “after GST implementation whole country would become one big market. The country was united from a political point of view, but financially, it was never cohesive. Tax rate differed from one state to another, sometimes there was duplication in tax imposition. The GST leaves no scope for that. There would be a seamless flow of goods and services.”
Read Also: Dealer Wise Process of GST Registration and Return Forms
“The Centre had notified certain provisions in the constitution amendment law for GST with effect from September 16 last. The old tax regime can continue for one year. If not implemented, tax collection will be difficult for States after September 16, 2017. If somebody tries to create roadblock for GST implementation neither any scope nor much time is left for such attempt.” he added
While addressing at the Make in Odisha conclave, he mentioned that “over a period of time, this will help in the growth process. It will help the consuming State like Odisha, Tax evasion would be increasingly extremely difficult because from inception to the end the whole process of would be captured on the IT backbone that is being developed. Coupled with this, our country will move to a far clear and formal economy. The informal sector will be formalized.”
