‘GST won’t have impact on consumers’

Source: The Hitavada      Date: 23 Jul 2017 09:21:18


 

By Praveen Vighre,

THE people, especially the traders, instead of referring the book or literature of Goods and Services Tax (GST), relied more on the messages circulated on social media like WhatsApp and Facebook, said B C Bhartia. He was speaking at the monthly event ‘Jansamwad’ organised by Janmanch, on the topic ‘GST Concept and Scope’. Also present on the dais were CA V P Jaipurkar, Adv Anil Kilor, President of Janmanch, Naresh Kshirsagar, Secretary and Prof Sharad Patil.


Bhartia clarified the need of the GST. He said: “Due to the previous federal tax system goods and services were getting more expensive, as one had to pay tax to the Local Government, State Government and Union Government. We were unable to compete in the global market. The cost of doing business was high. GST is a solution to all such problems.” He said: “We find the rates too high when we see the rates like 28 per cent, 18 per cent and so on but previously we were paying more equivalent hidden taxes in the form of VAT, Octroi, Excise, LBT, etc. GST will not have overall impact on the consumers.” Traders were having confusion about adapting to the new technology-driven tax system. “When we have easily adapted to mobile applications use, we can adapt to the new technology too,” Bhartia said.


He elaborated: “A doctor, while learning medicine, is never taught of the machines and technology which he will use during his practice. Doctors upgrade themselves with the new technologies and use them. We are heading towards a knowledge and technology-driven economy. A day will come when we have to adapt to the digital mode of payment,” Bhartia said. He noted that the GST would change the way of doing business. It was not only a new tax but a tax reform. Even the rates of taxes might come down in the future.


Bhartia said: “GST is a compliance-driven law where one has to file complete, correct and timely returns. If you don’t change, you will be out. Now, business will not be done on the basis of relations but traders will see the GST rating of the person with whom they are dealing.”


With the help of powerpoint presentation, Bhartia explained the details on the new tax regime and even showed the way as to whom had to file the returns and do accounting. He also brought before the august gathering the future problems that might occur.


Suhas Khandekar, Convenor of Jansamwad introduced the guests. Adv Anil Kilor made the introductory address. Rahul Gade and Adv Manohar Radke welcomed the guest. Prakash Itankar, Prabhakar Deshmukh, Pramod Pande, Amitabh Pawade and others attended the programme.