GST can be paid using debit, credit cards: Adhia

Image
Press Trust of India Indore
Last Updated : Oct 23 2016 | 1:13 PM IST
Individuals and entities can pay taxes online using debit or credit cards once the Goods and Services Tax (GST) is rolled out, Revenue Secretary Hasmukh Adhia said today.
The government proposes to roll out the new indirect tax regime from April 1 next year and has made registration, refunds, returns filing and payment processes online.
"With regard to payments, the best thing that will happen is all payments will have to be made online. You can use any mode of payment, electronic, NEFT, RTGS. You can do it through debit cards or credit cards of any bank.
"You need not open account in banks of government. Even if you have account in a private bank you can transfer money and it will reach the government," Adhia said while addressing the Global Investors Summit here.
He said GST will make it easier for traders and industry to access Input Tax Credit and also ease compliance burden as the entire country will become a single market.
"I would ask the states to focus on the services sector because industry will come on its own once demand increases," Adhia said.
He said India is now taking several reform measures and GST is the biggest tax reform since Independence.
Adhia added that GST will also ensure that the taxes deducted by sellers reach the government.
Asked what will happen to excise duty benefits currently enjoyed by units in Jammu and Kashmir as well as Northeastern and hilly states, Adhia said they will be protected in a similar manner.
"Instead of giving direct exemptions, we will take it through the Government of India's budgetary route," he said.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 23 2016 | 1:13 PM IST

Next Story