Prime Minister Narendra Modi today allayed all apprehensions that the Goods and Services Tax will negatively affect lives of poor citizens of the country.
Prime Minister Narendra Modi today allayed all apprehensions that the Goods and Services Tax will negatively affect lives of poor citizens of the country. Speaking during the debate on GST Constitutional Amendment Bill in Lok Sabha, the PM said that all goods necessary for the poor will be beyond tax net in GST regime. He informed the Parliament that about 55% items related to food and medicine, which can impact consumer inflation have been kept out of the ambit of GST net. The PM said that the new tax regime will simplify a lot of financial processes by bringing in “uniformity in form filing, tax rate, tax processing etc.” Most importantly, it will send across a message that consumer is the king, which is the biggest contribution of GST.”
The Prime Minister outlined a number of ways in which GST will help all states as well as the Centre. It will also improve transparency and curb corruption and control the flow of black money. “GST is a great step which will provice one stage (ek manch) one mandate (ek mat), on way (ek marg) and one destination (ek manjil) to the country,” Modi said.