Taxation issues will be clear with GST introduction

Taxation issues will be clear with GST introduction

Mangalore Today News Network

Mangaluru , Dec 16, 2016: Speaking at a GST awareness programme organised by the Kanara Chamber of Commerce and Industry on DEc 15, Thursday,  Mangaluru Central Excise and Service Tax Commissioner Dr M Subramanyam expressed confidence over most of the problems in taxation getting solved with the implementation of Goods and Services Tax (GST).

He went on to say the GST mainly deals with the requirement of the service sector. Tax compliance can be improved and the interstate barriers can be made away with, in the model of the European Union. The GST model proposes the pattern of ’one country one tax’ for effective tax administration and transparency. This will, in turn, result in the reduction of the cost of goods. There will be no cascading effect and the Indian products will be able to compete with the import of goods from other countries. In a nutshell, the GST scheme is directed towards the removal of economic distortion, he explained.  He said the phenomenal activities by stakeholders towards creating awareness on GST in the public sphere are welcome.

Achal Group chairman and KCCI former chairman G Giridhar Prabhu was the guest of honour. KCCI president Jeevan Saldanha and vice president Vathika Pai were present among a group of businessmen and concerned public.