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GST will remain a 'Good and Simple Tax', says Union Minister Naqvi

GST is a major reform to make country's economy better and to make small, medium and big businesses easy: Naqvi

ANI  |  New Delhi 

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on Monday said the Goods and Services Tax (GST) will remain as a Good and Simple Tax in the coming days to come.

His comments came in the backdrop of Revenue Secretary Hasmukh Adhia's announcement that the government is planning steps to ease the compliance burden on small businesses.

Naqvi told ANI, "is a very major reform to make the country's economy better and to make small, medium and big businesses easy. The is meant to provide ease of doing business. It is a very big reform of the single window taxation system. The will remain as Good and Simple Tax in the coming days and will prove to be as a better medium for small traders and businessmen."

Prime Minister Narendra Modi first termed the as a 'good and simple tax' on July 1, when it was launched at a gala event at the historic Central Hall of Parliament.

Naqvi also said that when a country introduces such major reforms, then it is natural to face minor challenges and obstacles.

"Based on the suggestions and improvements regarding such a major reform, the Council is conducting meetings time and again. The resolution of these obstacles is the priority of our government and the council and the Finance Minister has himself made improvements in that regard," Naqvi said.

Replying to a question about on the probability of diesel, petrol and real estate coming within the ambit of the GST, Naqvi said, "As and when the suggestions come, the Council takes them into consideration."

The is an indirect tax and is applicable throughout India. It replaced multiple cascading taxes levied by both the central and state governments.

Under GST, goods and services are taxed at the following rates, 0 percent, 5 percent, 12 percent, 18 percent and 28 percent.

First Published: Mon, October 23 2017. 14:07 IST
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