GST means Great Step to Transform India: Minister Piyush

     Written by : SMTV24x7 | Thu, Jun 22, 2017, 03:49 PM

GST means Great Step to Transform India: Minister Piyush

Vishakapatnam, June 22: The Union Minister for Power has participated in an event as Chief Guest at International Yoga Day celebrations here on Wednesday, which was organized by AP Chambers of Commerce and Industry Federation (APCCIF).

Although the full form of GST is goods and services tax, it should mean a 'great step to transform India', minister of state for power Piyush Goyal said on Wednesday.

He was in the city to participate as a chief guest at the International Yoga Day celebrations by the district administration.

Addressing an interactive session organized by the AP Chambers of Commerce and Industry Federation (APCCIF) here, Goyal said that the people have been paying several taxes for the past 70 years.

"The new reform will be rolled out from July 1 when the nation celebrates Chartered Accountant Day," he added.

The minister further said that it is not a tax similar to the existing ones. "The percentage of GST will be categorized into different forms right from zero to five, 12, 18 and 28 per cent, the minister added.

However, the power minister pointed out that some goods and services will be exempted from GST.

Goyal admitted that it is not going to be easy to introduce the concept, but said they are ready to face the difficulties.

"We can't learn swim on the first day. Let GST be introduced first if there are drawbacks they will be addressed by the GST Council," Goyal added.