Mangaluru, July 17: The Kanara Chamber of Commerce and Industry (KCCI) had organized special lecture on ’Road map to GST’ on Thursday, July 16th at its office in Bunder here.
Former chairman of Central Board of Exercise and Customs Sumit Dutt Majumdar delivered a talk on ’Road map to GST’.
Speaking on this occasion, Sumit Dutt Majumdar said if the goods and service rates are high, people won’t accept it. India needs a good Goods and Service Tax (GST) after collecting the public opinion. At international level, GST differs from two per cent to 20 per cent. But, India cannot tolerate a tax more than 20 per cent which is 14 per cent at present. The government has to pass the Bill in this monsoon session, so that it can be implemented from April 2016, he said.
As India is a federal democracy, the Centre cannot collect tax and distribute to states or states cannot collect tax on their own. If there is transport from one state to another, the tax collection will be done based on the destination. In the current system, customers have to pay tax on tax (for input and product). Also, taxes differ in each state, which has become a hindrance to common economic market system. The GST will avoid the hidden tax or tax on tax, said Sumit Dutt Majumdar.
Sumit Dutt Majumdar said that few amendments that the new government made in the Bill were necessary. Centre and one third of the vote from states is needed to pass a decision, he said.
Central Excise and Service Tax Commissioner Dr M Subramaniam, DVO Commercial Taxes (Admin) Joint Commissioner Dr L Sathish Kumar, vice president Rammohan Pai and Nigam B Vasani KCCI president were present on this occasion.
