04 July, New Delhi
Finance Minister Arun Jaitley has said the proposed Goods and Services Tax (GST) will be a simplified taxation system which will eradicate miseries being faced by trading community in present system.
He said it will end the cobweb of various taxes levied at different stages from production to distribution and will also bring an end to multiple authority taxation regime. The finance Minister said this while talking to a delegation of the Confederation of All India Traders (CAIT) in New Delhi on Saturday.
Jaitley said that GST is aimed to avoid distortions in tax regime and will give every opportunity to traders and other stakeholders to make a voluntary compliance which will result into widening of tax base.
He also released a Book, India moving Towards GST published by CAIT.