Prime Minister Narendra Modi on Friday hailed the Goods and Services Tax (GST) as a major tax reform, saying it furthered ‘Ease of Doing Business’ and fulfilled the vision of ‘One Nation, One Tax’. The GST was rolled out at the stroke of midnight on July 1, 2017.
On the fifth anniversary of the tax regime, the government says GST collections have come in above Rs 1 lakh crore for the twelfth month in a row. June collections crossed Rs 1.44 lakh crore, the second highest collection ever after the Rs 1.67 lakh crores in April this year.
To mark the milestone of GST turning five, an eminent panel consisting of Manish Kumar Sinha, CEO & EVP – Services at GSTN; D P Nagendra Kumar, Member of CBIC; Ajay Agarwal, Global Head — Tax at Vedanta; Pramod Jain, Head, Enterprise Risk Management at Flipkart; and Pratik Jain, Partner at PricewaterhouseCoopers discuss rates, rules and future challenges for GST. The panel aims to voice the concerns of India Inc, as well as give constructive suggestions to the policymakers and GST Council for accomplishing ease of doing business in India.
Watch the video for more.
-With agency inputs