GST Will Help Consumers, Traders In Long-Term : Venkaiah Naidu:- Union minister M Venkaiah Naidu, ahead of the roll-out of Goods and Services Tax (GST), on Monday said there may be some initial troubles, but the new tax regime will help consumers and traders in the long-term.

The nation’s biggest tax reform since independence, GST is set to be implemented from July 1. The Union Information and Broadcasting minister said “The midnight of June 30 will usher in a historic economic transformation - the biggest reform in indirect taxes since independence with the rolling out of the GST regime.”

Naidu said with Prime Minister Narendra Modi striking the mantra of “reform, perform and transform”, GST is the biggest transformation of the taxation system and brings in transparency and economic integration, which in turn will strengthen national integration.

The agriculture has been exempted and initially, there might be some difficulties, but the GST regime will help consumers and traders in the long-term as there will be no harassment, inspector-raj, discretion (discretionary powers) to the officers and no (inter-state) check posts, added the Union Minister.

“The inflation, prices will be brought down, and moreover it will improve ease of doing business and strengthen the economy in the long run” Mr. Naidu claimed. Although 142 nations around the globe are implementing GST, India is unique because of the vastness of the country and its huge population, Naidu said.

“A special session of Parliament has been convened to mark the launch of GST, because it is a momentous occasion,” the minister added.

SUPRAJA