A voluntary organisation Pragya Pravah organised a public lecture over the topic ‘structure and effect of GST’ at the Central library Bhopal on Monday. Financial Analyst Suneeta Rao was the keynote speaker and CA Pradeep Mutreja was the special guest at the programme. The Confederation of Indian Industry (CII) Chairman Pradeep Karambelkar chaired the programme.
In the lecture, Suneeta Rao said, “We all want to pay the tax because we all love our country and we want our country to step forward. But we are scared of the tax as the present tax system is complicated. The aim of Goods and Service Tax (GST) is to end this complication so that the people could understand their tax liability. The new thinking of the youth of the country is a major cause behind bringing the GST. Government is bringing a corruption free tax system in the name of GST. GST would make India prosperous and better.”
Pradeep Mutreja while explaining the merits of GST said that the main objective of bringing GST is to improve the condition of ‘balance of payment’. “Implementing GST is like shifting from ‘left hand driving to right hand driving’ which would change our viewpoint. The present system was origin based but the GST is destination based tax. An online laser would be created of every transaction .Tax evasion would be impossible with this facility,” he added.
Pradeep Karambelkar said, “GST is a major change and we Indians generally do not like the change. We should search opportunity in this change instead of ignoring it. GST would create new opportunity for every person and businessman.”