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| CII demands comprehensive, uniform and simple GST policy | | |
Early Times Report
Jammu Oct 26
Confederation of Indian Industries (CII) is looking forward to a comprehensive GST, which subsumes all indirect taxes at the Central and State level, with the exception of property tax, said the Apex Association in a Press Statement issued here today.
Sunil Kant Munjal, Chairman of the CII Task Force on GST said that CII appreciates the efforts being made by the Union Finance Minister and the Empowered Committee of the State Finance Ministers to implement Goods and Service tax (GST) from 1st April 2010. CII has also suggested that both Central as well as State GST should follow the HSN code for the purpose of classification of goods and dual GST should be levied on a common base price from manufacturing to retail stage on goods and similarly on services, said the Press Statement.
Elaborating on the importance of consensus building amongst all states on this important tax reform, Sanjay Puri, Chairman CII J & K Council said that for the measure to be successful it was necessary that all states implement GST together.
It was also necessary for the states to agree to a common minimum framework. Also after implementation of GST, CII expects removal of state barriers which restricts inter-state movement of goods and causes delay in transportation of goods, added Waseerm Trumboo Chairman CII Kashmir Zone.
Chandrajit Banerjee, Director General, CII said that GST is the first step towards creating India as a single market and an essential tax reform if Indian Industry has to stay competitive, where FTAs and CECAs are creating new challenges for the industry. A simple, uniform and comprehensive GST is a necessity today, said the CII Director General, while expressing hope that the State Governments would be able to come together in ensuring uniformity and comprehensive coverage of all levies under the State GST.
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