GST promotes one nation, one tax, one market, a great contribution of the new generation to the ever-evolving concept of unity in diversity of India,” said Nalco CMD and CII Odisha Chairman Dr Tapan Kumar Chand on Thursday.
“GST would benefit industries by offering better cash flows and better working capital management. This tax system would also boost India’s economic development by transforming the earlier multiple tax system into one direct taxation system,” added he.
He was addressing a workshop on the Goods & Services Tax organised by the Confederation of Indian Industry (CII), Odisha and Yi (Young Indians), Bhubaneswar here Bhubaneswar.
Citing the Nalco example, Dr Chand said there would be a Rs 100-crore positive impact of the GST on the company.
State Commissioner of Commercial Taxes Saswat Mishra, in his address, explained various aspects of implementation of the new taxation system for the understanding of common people.
Among others, CII Odisha Convener, Finance, Taxation & Economic Affairs Panel AK Sabat and Yi Bhubaneswar Chapter Chairman Matrudatta Mishra spoke on the occasion.