New Delhi [India] Oct 23 (ANI): Union Minister of Minority Affairs Mukhtar Abbas Naqvi on Monday said the Goods and Services Tax (GST) will remain as a Good and Simple Tax in the coming days to come.
Naqvi told ANI, "GST is a very major reform to make the country's economy better and to make small, medium and big businesses easy. The GST is meant to provide ease of doing business. It is a very big reform of the single window taxation system. The GST will remain as Good and Simple Tax in the coming days and will prove to be as a better medium for small traders and businessmen."
Naqvi also said that when a country introduces such major reforms, then it is natural to face minor challenges and obstacles.
"Based on the suggestions and improvements regarding such a major reform, the GST Council is conducting meetings time and again. The resolution of these obstacles is the priority of our government and the GST council and the Finance Minister has himself made improvements in that regard," Naqvi said.
Replying to a question about on the probability of diesel, petrol and real estate coming within the ambit of the GST, Naqvi said, "As and when the suggestions come, the GST Council takes them into consideration."
The GST is an indirect tax and is applicable throughout India. It replaced multiple cascading taxes levied by both the central and state governments.
Under GST, goods and services are taxed at the following rates, 0 percent, 5 percent, 12 percent, 18 percent and 28 percent. (ANI)