NEW DELHI: Finance secretary Hasmukh Adhia said on Tuesday that items and services tax (GST) will "change the game" for individuals who avoid to paying taxes. "When GST was introduced it was hailed as a gamechanging tax reform. Do you know what is game changing? It is an innovation which can spoil the games people were playing to avoid paying taxes," Adhia advised a gathering of exporters, whilst delivering his speech in Hindi. The rollout of GST has been noticed as a measure to plug loopholes and be sure that businesses across the country start paying taxes. Using high-end go back filing and matching system, the new tax regime makes it difficult for tax evaders. Introduction of GST is also noticed as the federal government's total strategy to nab evaders.
Adhia, who has performed a key position in the implementation of the new tax reform measure, defined in detail to exporters how it will benefit them. "Leave aside the transition problems. I want to assure you that in the long term it (GST) will benefit exports."
The finance secretary defined the reason at the back of prolong of refund for exporters and how the federal government had spoke back hastily to address the issue. He said incorrect filing of returns together with technological problems had not on time the process.
Adhia also elaborated the benefit of GST for exporters. "Earlier some states would give VAT refunds after two-to-three years, some would never give. Plus there was no credit for 5% octroi if you were in Mumbai. Under the GST system being put in place to file one application, get one refund order and get one refund. This will ease life and will boost exports."
He said as soon as the system stabilises, exporters will get refund for Integrated GST (IGST) as soon as they document for it. Adhia said the federal government has devised a manual cum computerized manner of filing refund. "This is an online system. Printout has to be submitted to jurisdictional officer."
Commerce and business minister Suresh Prabhu said creation of the new tax regime "would be the catalyst for spurring growth in the export sector. Lower duty on most of the items and reduction of cascading effect of various duties would lower the cost and make exports competitive".
Adhia, who has performed a key position in the implementation of the new tax reform measure, defined in detail to exporters how it will benefit them. "Leave aside the transition problems. I want to assure you that in the long term it (GST) will benefit exports."
The finance secretary defined the reason at the back of prolong of refund for exporters and how the federal government had spoke back hastily to address the issue. He said incorrect filing of returns together with technological problems had not on time the process.
Adhia also elaborated the benefit of GST for exporters. "Earlier some states would give VAT refunds after two-to-three years, some would never give. Plus there was no credit for 5% octroi if you were in Mumbai. Under the GST system being put in place to file one application, get one refund order and get one refund. This will ease life and will boost exports."
He said as soon as the system stabilises, exporters will get refund for Integrated GST (IGST) as soon as they document for it. Adhia said the federal government has devised a manual cum computerized manner of filing refund. "This is an online system. Printout has to be submitted to jurisdictional officer."
Commerce and business minister Suresh Prabhu said creation of the new tax regime "would be the catalyst for spurring growth in the export sector. Lower duty on most of the items and reduction of cascading effect of various duties would lower the cost and make exports competitive".
GST changes game for tax evaders: Finance Secy
![GST changes game for tax evaders: Finance Secy]()
Reviewed by Kailash
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December 07, 2017
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