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Prime Minister Narendra Modi today hailed the sweeping changes in the GST to give relief to small and medium businesses, saying his government does not want the country's business class to get caught in red-tape.
Referring to newspaper headlines, the prime minister said he was happy that the changes made by the GST Council which met yesterday had been welcomed all over the country, as if Diwali had come early.
"You all must be busy preparing for Diwali, and in Gujarat, Diwali is celebrated with great enthusiasm, especially among businessmen," Modi said while addressing a public gathering here.
Noting that "some very important decisions" related to the Goods and Services Tax (GST) have been taken, Modi said the government had earlier stated that it will study the GST for three months following its implementation and then fix the problems.
"(We had said)...Wherever there are problems in these three months, as in the areas of management, shortage of technology, problems related to rules, complaints regarding rates, trouble in practical experience of business class, we will address it," he said.
"We do not want the country's business class to get caught in red tapism, files, bureaucracy, I will never want this," Modi said.
"I am happy that it has been welcomed in one voice across the country," Modi said.
When there is trust in the government and honesty is seen behind decisions, then the country joins in despite difficulties, the prime minister said.
"I can experience this and I am thankful to the people of the country for the way they have welcomed our effort to make simple tax simpler," Modi said.
Three months after the roll-out of the new indirect tax regime, the GST Council yesterday made sweeping changes to give relief to small and medium businesses on filing and payment of taxes, eased rules for exporters and cut tax rates on more than two dozen items.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)