GST will eliminate cascading effect of indirect taxes

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Panaji, Jun 1

 

Mr Anphazhakan, Commissioner, Customs and Central Excise and Service Tax, Goa Commissionerate, has said that Goods and Services Tax (GST) will eliminate the cascading effect of indirect taxes and Confederation of Indian Industry (CII) is doing a commendable job by educating industry in the technical and legal adoption of the law to be effective from July 1.

Addressing the inaugural session of the CII’s two day GST training programme in the state yesterday, he said GST benefits all sectors, like the Government (as tax base will become multifold), industry (decreases the cost of compliance) as well as the Consumers (it results in cost reduction). He stressed on the importance of automation and GST education for all industry members for smooth transition to the new GST regime.

To encourage industry to be proactive in managing their GST compliance, CII has launched a series of around 100 two-day Training Programmes across India with a view to provide valuable insights and the transitional provisions to understand the GST Law and its impact across industry sectors.

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