Monday, June 24, 2024

GST module for tax reforms stressed


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By Our Reporter

 SHILLONG: For a major tax reforms to hit the state, there is a need to introduce Goods and Services Tax (GST) module that is expected to bring about sweeping changes in the Indirect tax landscape.

The GST which is likely to be implemented in India on either April 1, 2012 or October 1, 2012 is expected to impact each and every assessment in some way or the other. The GST structure, constitutional amendments and legislation are still work-in-progress.

With this expectation in mind, a one day workshop was organized by the State Taxation Department for a comprehensive and detailed manifestation of inputs concerning the introduction of the new tax regime, here in the city on Monday.

The Director of Tax, research unit of central board of excise and customs New Delhi, Yogendra Gara while delivering his speech to the entire officers said “Removing barriers to information dissemination are prerequisites for promoting equitable and sustainable development of the tax regime to succeed”.

While terming IT intervention as the backbone for GST, the Director of Tax said such an intervention is needed as GST cannot be handles with physical infrastructure.It may be reminded that Union Finance Minister, Pranab Mukherjee has brought up the issue of a critical reform measure for recasting the array both at the Centre and the Sate.

“India is a federation and the taxation powers of the Centre and the States are clearly defined in the Constitution”, Gara said adding that taxes are specified in the Constitution such as Excise under the authority of the Parliament and the State sales tax under authority of the State Legislature.

 “So a change under GST system for a taxation regime call for consensus”, The Director of Tax stated.


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