GST will help bring down inflation by one to two % by end of year : Revenue Secy

11 July, New Delhi

Revenue Secretary Hasmukh Adhia has said, Goods and Services Tax, GST will help bring down the inflation by one to two per cent by the end of this year.

In an interview to All India Radio, Adhia said, the objective of the government is to ensure that inflation should not increase. He said, the government has tried to keep the items used by the consumers under lower tax bracket.

Adhia said, as far as the implementation of GST is concerned, so far its implementation has been smooth as lot of planning was done in this regard. He said, under the GST, rates on items have been fixed in such a manner that it does not affect any section of the society adversely.

Adhia also said that GST will give a push to country’s exports and Make In India initiative in the long term.

In reply to a question about tax collection, the Revenue Secretary said, there will be some losses in tax collection in short term, but in the long term the revenue collection will go up.

He said, the government is also organising master classes on GST to educate the people about various aspects of the new tax regime.

Adhia said, tax evasion is not possible under the GST regime. He also appealed to the people not to pay heed to the rumours on social media about GST adding that they should verify them from the authorities. The full interview can be heard tonight at 9:30 pm on FM Gold channel.

Leave a Reply

Your email address will not be published. Required fields are marked *