GST to bring biggest business reform: Tax professional

GST to bring biggest business reform: Tax professional

GST is simply not tax reform. I say it’s about to bring biggest business reform,”

KOLKATA: The planned product and Services (GST) tax regime is ready to usher in biggest business reform, a tax professional aforesaid here these days.

According to me the implications won’t be a similar for all and rely upon however all will business.

Additionally known as upon the business to organize sector wise considerations seriously.

Referring to varied considerations of a number of sectors on the problem, religious belief urged that unless these area unit corrected they may need to suffer, beside lightness advantages of GST.

Service Tax Chief Commissioner (Kolkata) S K Panda aforesaid considerations ought to be noticed quickly to the govt. in order that those may be taken into thought once the ultimate legislation is written.

Panda aforesaid that he has raised at many locations of the draft, word service is missing rather than product and services tax.

“I do not know whether or not it’s deliberate or mistake. I actually have already raised it,” Panda aforesaid.

Meanwhile, BCC President Rakesh Shah of Iran aforesaid government ought to supply a flat rate of credit for closing stock for those not registered with excise.

According to draft GST those not registered with excise cannot claim stock credit,

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