GST will reduce inflation by one to two percent by year end: Revenue Secretary
New Delhi [India], July 11 (ANI): The Goods and Services Tax (GST) will help bring down the inflation by one to two per cent by the end of this year, Revenue Secretary Hasmukh Adhia has been quoted, as saying.
ANI
Jul 11, 2017 16:31 IST
New Delhi [India], July 11 (ANI): The Goods and Services Tax (GST) will help bring down the inflation by one to two per cent by the end of this year, Revenue Secretary Hasmukh Adhia has been quoted, as saying. Adhia told All India Radio (AIR) in an interview that the government's objective is to ensure that inflation does not increase, and added that the government has tried to keep items frequently used by the consumers under the lower tax bracket. On implementation of the GST, he said that it has so far gone off smoothly and credit must go to those who were involved in the planning process. He said GST rates have been fixed so that it does not affect any section of the society adversely. He also predicted that exports and Make In India initiative would get the required push and fillip due to GST. On tax collection, the Revenue Secretary said, there will be some losses in tax collection in short term, but in the long term the revenue collection will go up. He said, the government is also organising master classes on GST to educate the people about various aspects of the new tax regime. Adhia said, tax evasion is not possible under the GST regime. He also appealed to the people not to pay heed to the rumours on social media about GST, adding that they should verify them from the authorities. (ANI with inputs)
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