GST was needed for India's development: Meghwal

13 Aug 2017

“GST was needed for India’s development as there was an urgent need to raise the tax base & tax net for funding rural health and education projects”, said Arjun Ram Meghwal, Minister of State for Finance & Corporate Affairs, Government of India. He was hopeful that GST would take India onto the next level of development.
He mentioned that there had been 56,000 new Registrations in Bengal, which was the highest in the country. He mentioned that 30 Ministers and 180 IAS officers were engaged countrywide in assessing the implementation of GST.
Merchants’ Chamber of Commerce & Industry organized an Interactive Session with Mr Meghhwal on ‘Emerging India in the GST Era’.
Focusing on the priority sector of logistics, the minister was emphatic that introduction of GST would bring down the logistic charges from the existing 13.5 % to a level of 7%, as prevailing in certain countries.
Dwelling on the amendments in Companies Act, he said that the intentions were to enhance Ease of Doing Business, promote Corporate Governance and ease out procedural difficulties. Under Corporate Governance, 1,78,000 companies were brought under scrutiny by SEBI and 162 companies were asked to restrict their operations.
Earlier, in his welcome Hemant Bangur, President of the Chamber enquired about the steps taken by the GST Council to facilitate smooth implementation of GST. (EOIC)