Union Minister M. Venkaiah Naidu has said that the primary reason for the introduction of Goods and Services Tax (GST) in the country is to bring all the tax evaders under the tax net so that the nation can make rapid strides in development with asset building and wider scope for more welfare programmes to be implemented for the betterment of the people. <br/><br/>Addressing the media in Muppavarapu Foundation in Atkur near Vijayawada today, Mr. Naidu emphasized that GST is more a scientific way of collecting tax. <br/><br/>He said black money and tax evasion are the two main obstacles in the speedy development process. He said GST will reduce the burden on genuine tax payers who are actually in limited numbers and who pay their taxes without fail, as from now on more tax evaders will be under scanner without an alternate to avoid paying up the tax, which ultimately may lead to review of the tax norms. <br/><br/>The Union Minister said that GST was not introduced in a hurried manner by the Centre over night, as many of them are pointing to, however, it was implemented by taking into consideration the views and concerns of all the States with coordinated efforts of the Centre. <br/><br/>In fact, he said, the subject idea of GST was a well deliberated one in the country for over the past 17 years before it being materialized on July 1. Hereafter, in future he said, any issues relating to tax revisions will be taken care of by the GST Council. <br/><br/>He said any reform in its initial stages would receive some resistance, adding that the people of the country are well aware of the outcome of the reforms and their longtime benefits by standing in support of the Centre.
News On AIR | July 5, 2017 2:12 PM
GST will reduce burden on genuine tax payers: Venkaiah Naidu