Union Minister of State for Finance Shri Pankaj Chaudhary highlighted the salient features of GST and in particular removal of multiple taxes and implementation of the concept of One Nation One Tax. This consultative and collaborative approach is instrumental in making responsive and responsible policymaking. Not only were they proactive in bringing their issues to the forefront, they also helped in disseminating knowledge of GST through seminars and workshops. The trade associations have also played a vital role as well in the formulation and implementation of GST. Officers have faced innumerable challenges during the journey: the teething problems, especially with regard to technology, communicating & resolving the queries of the taxpayers, and the CoVID pandemic, among many other things. Appreciating efforts of CBIC officers, she said numerous officers across India have gone into making the grand vision of the GST project a reality. GST has also shown an impressive and steady increase in revenue collection over the last six years due to higher economic activity and enhanced compliance. GST is technology-enabled and technology-driven. The centre piece of the GST-Facilitation Revolution has been technology. The Finance Minister also highlighted benefits to MSME under GST by easing their compliance burden through measures like composition scheme, QRMP (quarterly return with monthly payment, optional annual return etc). Sitharaman also highlighted the sensitivity of GST Council in reducing rates even post introduction of GST. These include goods such as common household items like kitchenware, furniture, electrical equipments, bathroom & toilet fittings, refrigerators, TV, certain food items etc. Even after implementation of GST, rates have been pruned on common use items to reduce the burden on consumers, the Finance Minister said. Sitharaman particularly emphasised the positive impact of GST on consumers by reducing their tax burden and recalled that on many common use items, tax incidence under GST has become lower as compared to Pre GST rates such as Tea, Milk Powder, Hair Oil, Toothpaste soap etc. Multiple Tax Rates laws and procedures, cascading of taxes and check posts at every inter-state border were all burdens on taxpayer as well as common man. The Finance Minister recalled the fragmented state of Indirect Tax System in India where every state was effectively a distinct market. Even today, and certainly in the future, the success of GST is predicated on the feedback loop between the taxpayer and the department.” The GST Council meetings have become the shining examples of cooperative federalism, where the Centre and States have deliberated, discussed, and decided on various complex issues to make GST more responsive and nuanced. Nirmala Sitharaman, while addressing at GST Day 2023, said, “GST is the embroidery that stitches the diversity of Indian markets into the fabric of economic progress. Senior officials from Ministry of Finance, Central Board of Indirect Taxes and Customs (CBIC) and Central Board of Direct Taxes (CBDT) and other government departments were present. Nirmala Sitharaman presiding over as the Chief Guest and Union Minister of State for Finance Shri Pankaj Chaudhary as the Guest of Honour. Jwith the vision सरलीकृत कर, समग्र विकास with Union Minister for Finance & Corporate Affairs, Smt. The 6th Goods and Services Tax (GST) Day was celebrated here today i.e.
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