Chandigarh

POST GST, PRICES OF GOODS AND SERVICES WILL DECREASE- CEST COMMISSIONER

May 19, 2017 06:44 PM

Chandigarh (Face2News)

A Seminar-cum-interactive session on Goods & Service Tax GST was organized by the Central Excise& Service Tax (CEST) Commissionerate, Chandigarh, today. During the interaction session, Kishori Lal, and Sh. Naresh Penumaka, Commissioner, Ludhiana apprised the media about GST procedures and also cleared their apprehensions of trade.

 The Commissioner said that the GST is the single biggest tax reform since Independence. It will help in reducing cascading of taxes and will also create a common national market which will benefit small tax payers due to simplified tax regime. He also said that after the introduction of GST from first July of this year, the prices of goods and services would decrease, which will benefit the common man. GST being a non intrusive electronic tax regulating system, will help in decreasing the evasive transactions which will also bring transparency in the Tax system and further help the nation to progress.

During power point presentation, Master Trainer, Mr .Rajan also clarified many queries raised by media persons. He also apprised the media that government may convert existing area based exemption schemes into reimbursement based scheme. Taxpayers will be registered only if their annual turnover is more than Rs. 20 Lakh. All transactions and processes will be made through electronic mode.

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