Nirmal Singh 3C Company Reviews The GST Bill As The Launch For The Same Nears

For a bigger change you need a bigger action and even big force to work your way through your work. With such a plan, the Indian government is all prepared to bring a drastic change in the taxation system of the country. Nirmal Singh 3C Company speaks about GST as the bill come close to being promulgated. From July 1 all the previous and services tax will roll out and only one single tax would be levied by both the state government and the central government. This is the most ambitious tax reform initiative taken by the Indian government ever since the Independence.

Amalgamating several Central and State taxes into a single tax would remove the problem of double taxation, facilitating a common national market. This will make sure that the consumers always benefit through lower incidence of taxes as the central excise, VAT, service tax and entry taxes have been removed from the new bill.

The plan has been under consideration and a part of the debates in many Vigyan Bhawan meetings, which by the way is the place where majority of Union and state finance ministers are seated. Since we are under such a time constraint, there is no way the government could have delayed the implementation of the bill any further.  Although, there are still meetings along with the state leaders to think of other and better options.

After a GST council meeting on Sunday, Finance minister Arun Jaitley said that the rates of all the goods and services have been fixed, the rules finalized. All the remaining clauses will be looked into before July 1. Except for Jammu and Kashmir, the bill has received acceptance from all the parts of India. Even West Bengal would be propagating the bill along with all others.

Making it easier for people, Nirmal Singh 3C Company explains the meaning and benefits of GST. Goods and Services Tax Network (GSTN) is a non-profit organisation formed to create a platform for all the concerned parties i.e. stakeholders, government, taxpayers to collaborate on a single portal. The portal will be accessible to the central government which will track down every transaction on its end while the taxpayers will be having a vast service to return file their taxes and maintain the details.

J&K, however, is currently not on board despite the BJP government being keen to enact laws as National Conference has flagged concerns over the current situation of the state. The current charge against GST is being headed by Abdul Rahim Rather in his role as the chairman of the state committee of FMs.