New Delhi, March 22, 2017
Finance Minister Arun Jaitley on Wednesday said that the roll-out of the goods and services tax will make it even tougher to evade taxes.
Addressing the 23rd Conference of Auditors General of Commonwealth Nations and British Overseas Territories, the Minister said that efforts are on to roll out GST from July 1 this year and it will transform the complex indirect tax system to a simple system.
His comments came soon after the Union Cabinet cleared four enabling legislations for GST on Monday. The Bills for Centre, Integrated and Union Territory GST along with the legislation for compensation is likely to be tabled in Parliament soon.
Jaitley also praised the decision to demonetise high value currency in November last year and said it will “act as a disincentive to continue with shadow economy, will integrate informal with formal economy''.
[The Hindu Business Line]