Indore: Sudip Gupta, an exponent of Goods and Service Tax (GST) and deputy commissioner of Commercial Tax Department (CTD) has said that while drafting the new indirect tax structure, it has been maintained that there should be less tax element. However, after rolling out GST, tax may be increased on some items while others may have less tax load.
Senior officer of CTD Gupta, who always use to represent MP in the meetings of GST draft law, was addressing a workshop on ‘Implementation of GST Law in India here on Wednesday’. The workshop was jointly organised by Federation of Indian Export Organisations (FIEO) and Indo-American Chamber of Commerce (IACC), New Delhi. Gupta informed that fitment committee is now considering levy of GST rates on each particular goods and services. Liquor will remain a state subject, thus it would not a part of GST levy.
However, petro products may bring under ambit of GST regime in short future. Dr Jayant Sonwalkar, dean and head of Devi Ahilaya Unviersity Indore, stated that GST will reduce lot of hassles and will substantially improve the ease of doing business following the philosophy of “One country One Tax philosophy”. Dr Sonwalkar further took the example of exports and explained how GST will be applicable and utilized. Aseem Chawla regional vice president of Indo-American Chamber of Commerce initially explained the idea behind the GST and shared information on provisions of GST Law.
He also mentioned that GST will change the tax architecture between the state and the Centre. It is a value added tax that will replace all the indirect taxes levied on goods and services by the Government, both Central and States, once it is implemented. GST will certainly impact the structure, incidence, computation of indirect taxes leading to a comprehensive restoration of the current tax regime in the country. Preeti Johri, asstt commissioner, commercial tax department, govt of Madhya Pradesh explained the provisions of GST, liability and penal provisions at length.