ICSI welcomes passage of GST Amendment Bill

The GST Bill will be the most comprehensive single tax reform for India post independence. This is a huge step for the economy and will prove to be a great boost in the direction of attracting investments and furtherance of “Make in India” initiative, a company statement claimed.

Welcoming the Government’s initiative to bring in structural changes to the tax regime in India through the Goods and Services Tax (GST) bill, CS Mamta Binani, President ICSI in a press conference said,  “GST is one indirect tax for the whole nation, which will make India one unified common market. GST will be a boon for business and industry as it will bring a new wave of tax regime in India by providing Easy compliance, Uniformity of tax rates and structures, improved competitiveness, Gain to manufacturers and exporters.”

Binani also stated that once GST is rolled out, ease of doing business would improve in the country and in long run the tax rate would also come down benefitting the consumers.

The ICSI president also announced that Institute will observe August as GST Awareness month.

ICSI will organise series of seminars and webinars on GST for creating wide spread awareness across India.

The Institute will also conduct Professional Development Programmes, Study Circle meet, Interactive Meetings with Members and Master class rooms on GST.