GST is more effective for plethora of Indirect Taxes: FM

The Finance Minister said that he is hopeful that the Goods and Services Tax (GST) Bill would be passed before the end of the current financial year.

The Finance Minister Shri P. Chidambaram further said that though there are still some issues relating to GST and its Network (GSTN) to be resolved, yet they are not insurmountable.

The FM said that the objective is to put in place an effective and efficient tax system which is friendly and fair to the taxpayers. He said that once GST is implemented, it will not be adversarial to the taxpayers.

Earlier, a presentation was made on the GST Network system by the officials of Central Board of Excise and Customs.

As part of the mandate, the Empowered Group (EG) on IT Infrastructure for GST recommended the IT strategy for GST and the appropriate structure and roadmap for creation of an SPV to be called the Goods and Services Tax Network to deliver the required IT services for GST implementation.

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