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GST to be implemented with minimum pain to trade, industry:

Press Trust of India  |  Chandigarh 

Chief Minister today said the was committed to implementing the with minimum pain, if any, to the trade and industry in the state.

Addressing the here this evening, the chief minister said he had asked the State Excise and Taxation Department not to pursue provisions of the act requiring arrest for defaults in implementation of the Act.

The shall give enough time to trade, industry and business to adopt the procedures, he said, adding that his had also decided to appoint a ombudsman to address public grievances objectively and impartially.

While the state minister would spell out in detail the measures his intended to take to tackle the fiscal crisis, the focus would be mainly on financial prudence, strict financial discipline and accountability, said the chief minister.

The measures aimed at creation of wealth in agriculture, industry and service sectors which generate more employment would receive greater attention, he said.

The would endeavour to expand the base of the economy, with increase in trade, business and industry, instead of making the structure more oppressive as allegedly done by the previous government, he assured the House.

The State Goods and Services (GST) Bill, 2017, was passed unanimously by the here today.

On the excise and taxation issues impacting the state's governance, the chief minister said the "distortions in policies and laws encouraged by the previous could be fully seen through the collections of taxes in the state".

"They never achieved the projections of taxes made by them during the last ten years, and had suffered losses of over Rs 13,000 crore on this score only," he said, promising to reverse the declining trend in the state's economy and put it once again on the path of high-trajectory growth.

The chief minister referred to the new Excise Policy 2017-18 introduced by his and the steps being taken for rationalisation of all levies, underlining his commitment to ensure level playing field for the state's industry, trade and business.

He shared that the had successfully conducted excise auctions for the year 2017-18 and realized Rs 1,016 crore (23.1 per cent) more than the previous year 2016-17.

The government, he said, had also decided to remove bottlenecks in free movement of goods vehicles, and also the Information Collection Centers of the Department of Excise and Taxation subsequent to the successful implementation of in the state.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 20 2017. 00:48 IST