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GST will reduce inflation by one to two percent by year end: Revenue Secretary

ANI  |  New Delhi [India] 

The Goods and Services (GST) will help bring down the by one to two per cent by the end of this year, Secretary Hasmukh Adhia has been quoted, as saying.

Adhia told All Radio (AIR) in an interview that the government's objective is to ensure that does not increase, and added that the has tried to keep items frequently used by the consumers under the lower bracket.

On implementation of the GST, he said that it has so far gone off smoothly and credit must go to those who were involved in the planning process.

He said rates have been fixed so that it does not affect any section of the society adversely.

He also predicted that and Make In initiative would get the required push and fillip due to

On collection, the Secretary said, there will be some losses in tax collection in short term, but in the long term the collection will go up.

He said, the is also organising master classes on to educate the people about various aspects of the new tax regime.

Adhia said, tax evasion is not possible under the GST regime.

He also appealed to the people not to pay heed to the rumours on social media about GST, adding that they should verify them from the authorities.

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

First Published: Tue, July 11 2017. 11:07 IST