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18 December 2018
 |
| GST
(The Total Investment & Insurance Solutions) |
Indicating that further simplification of the
Goods and Services Tax is on the anvil, Prime Minister Narendra Modi said his
government wants to ensure that '99 per cent things' attract sub-18 per cent
GST slab. The Total Investment &
Insurance Solutions
Before implementation of the GST, registered
enterprises only numbered 65 lakh, which has now risen by 55 lakh, Modi said,
addressing the Republic Summit here.
"Today, the GST system has been
established to a large extent and we are working towards a position where 99
per cent things will attract the sub-18 per cent GST slab," Modi said.
Modi indicated that the 28 per cent slab of GST would only be restricted to a
few select items, such as luxury goods.
The Total Investment & Insurance Solutions
The
Prime Minister said the effort will be to ensure that 99 per cent of all items,
including almost all items used by the common man, would be kept at a GST slab
of 18 per cent or less. "We are of the opinion of making GST as smooth as
possible for the enterprises," he said.
"In earlier days, the GST was framed
according to the existing VAT or excise tax structures exercised in those
respective states. (With) the discussions held from time to time, the tax
system is getting improved," Modi said. The Total Investment & Insurance Solutions
"The country was demanding GST for
decades. I am pleased to say that GST implementation has removed contradictions
in the trade market and efficiency of system is improving. The economy is also
getting transparent," Modi said. Even a small tax reform in developed
countries is not easy, he said. Modi also spoke of his government's commitment
to root out corruption.
"Corruption had been taken as a new
normal in India. It was 'Chalta hai'. Whenever anyone used to speak up, someone
would say, 'This is India. This is how it is'," Modi said. "Why
should it be like this," he said. The
Total Investment & Insurance Solutions
Modi also dwelt on his government's initiative to provide gas connections to households. "Till 2014, only 55 per cent houses in the country had a gas connection. Imagine that.
Our government is working towards finding permanent solutions and ending those practices that have held progress back for decades," he said. The work to build a New India is going on, he said. The Total Investment & Insurance Solutions
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