The 122nd Constitution Amendment Bill to pave the way to introduce GST has already been passed by the Lok Sabha and is likely to be passed by Rajya Sabha in the Monsoon Session. The All India Trinamool Congress will support the same in the national interest, said Sukhendu Sekhar Roy, Member of Parliament and Vice Chairman in Panel, Rajya Sabha. He was speaking at the Business Standard Smart Business interactive seminar on GST Bill 2016 organized in association with Calcutta Citizens Initiative, Rotary Club of Calcutta and AIFTP East Zone and supported by Concern for Calcutta.
Narayan Jain, Advocate and National Vice President, All India Federation of Tax Practitioners, said that Excise, Custom, VAT, Service Tax and Entry Tax will merge into Central GST and State GST, leading to simplicity in compliance.
Biswajit Datta, former Chief Commissioner of Excise, Customs and Service Tax, said that a model GST law will help all concerned and even State Governments will have better revenue collection.
GST consultant Arun Agarwal said that the GST will be collected on the basis of ultimate consumption, not of production base, so West Bengal and other states of eastern India will get more revenue.
Rtn. Nilima Joshi, President, Rotary Club of Calcutta, delivered the welcome address, Ashok Purohit, President, Calcutta Citizens Initiative, was Master of Ceremonies, and R.D. Kakra, Chairman, AIFTP (East Zone), proposed the vote of thanks.
Mr. R. L. Auddy, President, Concern for Calcutta played on active rob in making the seminar a success.