GST regime can’t be delayed any further at any cost, will be effective from July 1: Adhia in Surat

Surat: The Goods and Services Tax (GST) regime would be implemented from July 1 this year at any cost, Union Revenue Secretary Hansmukh Adhia today said.

He also said that the GST regime was likely to give a boost of up to 4 % of the GDP to the national economy paving way for taking the growth rate to 12%.

Addressing a GST outreach event organized by the Southern Gujarat Chamber of Commerce & Industry (SGCCI) in the convention hall of Veer Narmad Dakshin Gujarat University here today, Adhia said that the implementation of the GST won’t and couldn’t be delayed any further.

He said that owing to legislative compulsions the tax regime would be implemented from July 1 at any cost.

Adhia said that the tax regime would ease up the taxation system and any body can file his tax return online without any difficulty. It would lessen the production cost on several items. ‘A survey has claimed that the implementation of GST would increase the growth rate of the economy by 4% of the GDP taking it soon to 12%,’ he said.

Turning down the demand of the textile merchants in Surat to not to put them in the GST regime till January next year, he said that it was not possible.

On the occasion, Adhia, also answered many queries of the local Industrialists and merchants about the GST including those about the doubts regarding the credit line and those involved with job work in industry.

Adhia assured them that the GST regime would be overall beneficial for everyone and the economy. ‘It would end the complex tax regime and put in place a single tax system ending the need to go to the tax office for filing return,’ he said.

SGCCI president B S Agrawal on the occasion requested Adhia to ensure that the diamond and textile industries were not put in higher tax brackets in GST regime.

DeshGujarat