Main aim of GST is to simplify taxation process: Venkaiah
Increasing national wealth by curbing black money and tax evasion, and distributing the economic benefits to all is the main objective of GST, says Union Minister Venkaiah Naidu.
Amaravati: Increasing national wealth by curbing black money and tax evasion, and distributing the economic benefits to all is the main objective of GST, says Union Minister Venkaiah Naidu. "The main aim of GST, which Prime Minister Narendra Modi termed as Good and Simple Tax, is to simplify the taxation process, reduce the burden of taxes (which will eventually happen automatically) and ensure compliance of tax payment.
"This will curb black money and lead to increase in national income and reduce the tax burden on people as the number of tax-payers will go up," Union Information and Broadcasting Minister M Venkaiah Naidu told reporters at Atkuru village near Gannavaram this afternoon. "Some people are deliberately trying to create apprehension among people over GST. Any reform will cause some trouble initially. "There was some trouble immediately after demonetisation.
In a way, we get used to things but if we change a bit and go ahead, tax evasion will reduce. Also, the tax burden will reduce and the middlemen system will vanish," he pointed out. "These are all the thoughts of the Prime Minister. The intention is to ensure all benefits provided by the government reach the targeted people properly. Hence, the Direct Benefits Transfer scheme. Ultimately, the aim is to increase national wealth so that it is properly distributed to the (deserved) people," Naidu said.
Meanwhile, Andhra Pradesh Finance Minister Yanamala Ramakrishnudu decried criticism that Goods and Services Tax (GST) was enforced without a proper planning. "GST was deliberated for more than 15 years and only then was it implemented. It became a law only by consensus. If there are any contentious issues, the GST Council will meet every month to sort them out," he said.