The government today said that Goods and Services Tax, GST would not increase compliance burden on assessees and all apprehensions in this regard are misplaced. <br/><br/>Revenue Secretary Hasmukh Adhia said this while replying to queries on Facebook.<br/><br/>Explaining the rationale, he said people have to keep different law books for filing return for various taxes but with the roll out of GST, there would be a single tax and accounting for this will be very simple. Mr Adhia, said the finance ministry is gearing up for its rollout and five days training has already been given to officers.<br/><br/>The government intends to implement the GST from 1st of July this year and the GST Council headed by Finance Minister Arun Jaitley has finalised four rates of 5 per cent, 12 per cent, 18 per cent and 28 per cent after unifying levies like central excise, service tax and VAT. Mr Adhia also said, indirect tax burden may come down in the new GST regime.<br/><br/>On petroleum and alcohol products coming under GST, the Revenue Secretary said that these may not be under the new tax regime till such time the GST Council decides to impose a rate.
News On AIR | May 1, 2017 8:06 PM
GST not to increase compliance burden, says Revenue Secretary