Nitin Gadkari says GST will help in achieving vision of 5 trillion dollar Indian economy by 2025
Union Minister for Road Transport and Highways, Nitin Gadkari, said that GST will help achieve the vision of a 5 trillion dollar Indian economy by 2025.
While addressing a webinar on the “GST Day” on the theme "THE JOURNEY OF GST AND WAY FORWARD - AATMANIRBHAR BHARAT", he said that GST was founded on the notion of “One Nation, One Market, One Tax” which has helped and will be helping the trade and industry a lot despite the prevailing pandemic situation.
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Nitin Gadkari said Goods and Services Tax was implemented from 1st July 2017 and now it has completed four years of its implementation. During these four years, a remarkable change was seen in the way the business was being carried out, he said.
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The minister said digitalisation and information technology have an important role to play. He said for a transparent and time-bound decision-making process Performance Audit along with Financial Audit is very important.
Talking about the problems faced by MSMEs, he said delayed payments were the main cause of concern which has to be resolved.
The minister said though GST has completed four years there was still room for improvement. Gadkari said cooperation, coordination, communication, and rectification are needed from all stakeholders.
He complimented The Institute of Cost Accountants of India for conducting regular webinars, seminars, various courses for different stakeholders throughout the Country to unlearn and relearn new subjects which are need of the hour to survive in the New Normal.
-PTC News
