Indian economy would make rapid strides and be able to effectively compete with the China economy if the Goods and Services Tax (GST) Bill which is in the Parliament is accepted in coming months.
Addressing a symposium on ‘Goods and Services Tax-An Introductory Perspective’ here on Saturday, Additional Commissioner (Rtd.) of Commercial Taxes Department T. Vivek said that with the passage of the Bill, the country would become a single economic unit which would be good news for all the people.
“It’s good news for investors as your investment would have less tax burden. Generally, investment is largely influenced by tax structure rather than other factors. After the GST comes into effect consumer would be paying less than what he or she is paying today because there are so many hidden taxes at present.”
TSCTJAC president T. Venkateswarlu, Nizamabad Chamber of Commerce and Industry president Guru Prasad and Ashok Reddy also spoke.