GST will reiterate the idea of ‘One Tax, One Nation’. Understanding the urgency of the transformational shift to GST, the state of Rajasthan passed the SGST Bill and became the third state to pass it in the country.
The Rajasthan assembly passed the State Goods and Services Tax (SGST) Bill 2017 by voice note on Wednesday post Telangana and Bihar passed the bill in their respective assemblies.
The paradigm tax regime shift to GST has been welcomed by the centre and the states alike. It is a sanguine movement for a country like India where people indulge in extensive tax evasion practices. The GST will be breather for honest taxpayers, while an alarming trigger for tax evaders.
The SGST bill will subsume value added tax (VAT), entertainment tax, entry tax of goods, luxury tax, etc.
The GST is aimed to reduce these complexities and turn the country’s into a developing economy,” said Shekhawat. This will strengthen co-operative federalism.” added Shekhawat.
“GST will help in seamless flow of inter-state services in the country. Inter-state trade will increase, the GDP will grow and the common man will be benefited. He said tax rates under the GST regime have been finalized,” Industry minister Rajpal Singh, state representative in the GST council said.
“The Centre will not be able to operate arbitrarily. States will have a much larger say as the council holds a third of its members from the Union government and the remaining two-third from state governments. This will strengthen co-operative federalism,” Singh added.
Impressively, the Rajasthan government is operating in a proactive mode for the seamless implementation of the GST. As many as 4.24 lakh state taxpayers have been adequately equipped with GST supplements to activate the new tax regime with full force.
