Recent changes in GST will boost business: Chief Commissioner CGST

 

 

 

Chief Commissioner of CGST, Central Excise & Customs, Sandeep Puri said that the recent changes and simplifications introduced in GST will greatly help in expanding business, increasing compliance, and reducing disputes. “GST 2.0 will provide significant relief to major companies across the country and is expected to bring benefits to smaller firms as well. This will lead to a reduction in costs, giving a competitive advantage in exports. The benefits of these reforms will be passed on to the business sector,” he said at an interactive session organised here by the Vidarbha Industries Association (VIA) Taxation & Corporate Law Forum in association with Vidarbha Tax Practitioners Association.

 

Sandeep Puri said the new system will make GST easier and simpler for both taxpayers and the department. He said the Government has made several efforts to strengthen GST. He pointed out that although there have been challenges in implementing GST since 2017, India has emerged as one of the best countries in the world in terms of GST system and structure. Sandeep Puri observed that with higher disposable income, tax collection will also increase. Earlier, CA Ashok Chandak, Chairman of VIA Taxation & Corporate Law Forum, in his welcome address highlighted the significance of the reforms announced after the 56th GST Council meeting. At the outset, VIA President Prashant Mohota welcomed Sandeep Puri and said the industrial sector would fully cooperate in ensuring compliance with tax laws with complete transparency and simplicity. VIA Vice President, CA Naresh Jakhotia, made opening remarks while CA Sachin Jajodia, Convener of VIA Taxation & Corporate Law Forum, moderated the question & answer session. CA Mahendra Jain, President – VTPA summed up the session and also proposed a vote of thanks.