Ransomware no threat to implementation of GST: Nandkumar Singh

Source: The Hitavada      Date: 17 May 2017 12:18:57


Staff Reporter

 

BJP State President Nandkumar Singh Chouhan said that GST, which is going to come into effect from July 1, will boost the foreign investment and as a result, GDP will reach to next level. Talking about the threat posed by ransomware virus attack, he said that GST is not based on Microsoft and hence, it is safe.
Coming to GST, he said that inflation will ease out with reduction in charges of transportation and production cost. Shedding light on major points of GST, he said that not only big but also small and medium industries will also be benefitted.


In present scenario, VAT and production fee is imposed on capitalised items and this factor leaves investors fuming as there is no relaxation on production. After implementation of GST, taxation will be direct and easy and this will boost the investment.


It will be easy, particularly, to small and medium industries, to do the business. The reach of manufactures will increase till far flung states. As the barrier system of Tax Department will come to an end, hence transportation speed will increase and will also reduce transportation cost.