Bharatiya Janata Party (BJP) State president and MP Nandkumar Singh Chouhan has said that with the passage of GST bill, India would join the club of those developed countries of the world where doing financial business is easy and accessible.

Chouhan in a statement here on Sunday said, “The passage of the GST bill would do unprecedented expansion in the economy of country. More or less the GDP would go up by minimum 2 per cent. The reduction of taxes by 2 to 3 per cent from the existing 25 per cent there is possibility that the prices of goods would come down.”

Chouhan further said that most of the political parties are ready for it. Originally the roadmap for the GST bill was prepared by the Congress in these circumstances looking at the most awaited aspiration of the people this bill should be passed in the Rajya Sabha as it has already been passed by the Lok Sabha.

He said that after independence GST is the biggest tax reform. To begin with the then Prime Minister of the BJP led NDA Government Atal Behari Vajpayee forwarded this idea by constituting Kelkar Committee. 150 countries of the world have adopted this tax system due to that the production cost has come down in those countries, he added.

He said the biggest advantage of GST would be that this tax system would be completely transparent; the procedure of tax payment and tax collection would become easy due to that labor and resources would be saved. The passage of GST would send an attractive message to the world that India has also become a favorite place for doing business, he added.

The senior BJP leader said that the implementation of the GST in the country the prices of goods would become uniform throughout the country and the imagination of one India would be realized.

Source: http://www.dailypioneer.com/state-editions/bhopal/financial-biz-in-india-to-become-easy-with-gst-bill.html

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