GST would simplify the India’s taxation system and help deal with tax evasion, NITI Aayog CEO Amitabh Kant said.
The Goods and Services Tax (GST) will help the country achieve 9 per cent growth rate, NITI Aayog CEO Amitabh Kant said, adding it is the biggest tax reform since independence.
Further, GST would simplify the India’s taxation system and help deal with tax evasion, he said.
The new tax regime would bring a big change in Indian taxation system as experts have also pointed out that the new tax regime is estimated to boost GDP by 1-2 per cent, said the NITI Aayog CEO.
Prime Minister Narendra Modi had recently reviewed the progress made in the new indirect tax regime, scheduled to be rolled out from July 1.
The GST Council has decided the tax rates for all the goods and services. Its next meeting is scheduled for June 11.