December 14, 2010 1:44 PM

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Govt. is committed to improve efficiency and equity of tax system says FM

The Finance Minister Mr Pranab Mukherjee has said that the government is committed to improve the efficiency and equity of tax system by eliminating distortions in the tax structure.Inaugurating a 2-day National Seminar on Goods and Services Tax (GST) in New Delhi today, Mr Mukherjee said the proposed roll out of GST is a natural step towards further consolidation taxes.He said GST is likely to improve the tax collections and boost India's economic development by integrating the country's market with a uniform tax rate.He said it will be a win-win situation and nobody is going to lose. Mr Mukherjee said the various measures taken by the government in respect of Direct Tax Code (DTC) and GST will create for the country a model and most efficient tax system in the very near future.

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