Ntl workshop on GST commences in Kohima


Kohima, May 22: A two-day long national workshop-cum-seminar on GST in India organized by Department of Commerce, Nagaland University, Kohima Campus in collaboration with National Institute for Electronics & Information Technology (NIELIT) Kohima is being held at the NIELIT, Meriema, Kohima.
Addressing the inaugural session today, Pro-Vice Chancellor of Nagaland University, Meriema, Campus Kohima, Prof. R C Gupta said GST if implemented successfully can be catalyst for economic development of the country.
GST will not only benefit the production level up to the sellers but the end users would also have the advantage of paying a single tax instead of paying multiple taxes.
He also informed that GST is not a new thing but the then Congress government had tried to implement it in 2010 but were unable to do so because of some technical reasons. However, the NDA government led by Prime Minister Narendra Modi has enforced GST with an expectation to uplift the economy of both the Centre and State government.
This single tax system has replaced central taxes such as central excise duty, service tax, additional duties of excise and customs, special additional duties of customs and cesses and surcharges on supply of goods and services, he said.
GST has also replaced state taxes like VAT, sales tax, purchase tax, entry tax, entertainment tax, taxes on advertisements, lotteries, betting and gambling and state cesses and surcharges, he said.
It is expected that the seminar will help the stakeholders in understanding the regulatory framework of GST, its implications and more specifically its impact to north eastern states, said the Pro Vice Chancellor.
Delivering the keynote address, Head of Commerce Department NU, Prof. A K Mishra said indirect tax system has experienced a massive transformation with the introduction of GST.
The GST has been introduced with a view to ease the tax burden, make compliance simpler, reduce the multitude of taxes levied by the Centre and States by unifying them, to streamline and modernize tax administration, he said.
He said that GST system provides business entities to take advantage of ‘input tax credit’ for taxes paid along with the supply chain to prevent the cascading effect of paying tax on taxes already paid.
Experts are of the opinion that GST is the biggest and boldest tax reform that India has embarked upon since independence, he said adding that “if well implemented, the entire Indian market will be a unified market which may translate into lower business costs”.
Director of NIELIT, Kohima, L. Lanuwabang said that GST is the taxation system of New India releasing vision of the Digital India. “GST is the path breaking legislation for New India and a revolutionary taxation system,” he said, adding that GST is a simple, sophisticated and consumer friendly way how the government of India will collect the tax from the business and individual citizens.
“GST is not just a tax reform, but it is a landmark step towards economic reforms,” he said while expressing hope that GST will enable the digital industry business initiative to take root by providing a uniform tax rate and standard regulations across the nation. “It is an affirmation for corruption free taxation system,” Lanuwabang said.
Convener Organising Committee, Dr Ratan Kaurinta gave a brief about the workshop. Both practical and theoretical sessions are being held while around 17 paper presentations on different sub-theme of GST would be deliberated tomorrow.
(Page News Service)