GST to benefit consumers, says Union min Chaudhary

PANAJI: Highlighting the importance of the Goods and Services Tax (GST) rollout, union minister of state for consumer affairs, food and public distribution C R Chaudhary said the GST reforms had created a single marketplace for Indian companies in the country.

"People are very busy. They cannot be expected to spend their time bothering about tax formalities of several taxes across different states. GST being one tax will help in this regard," Chaudhary said. He was speaking at an interactive session on GST organized recently by the central GST department.

Chaudhary added that the GST regime would also benefit consumers who would be able to know the exact amount of the taxes payable on different products. "Under GST the consumer will be able to easily identify at what rate any particulat product is being taxed. This was not possible earlier. Also, earlier there were a lot of taxes which made it possible for people to evade paying tax," he said.

Meanwhile, in his official address, commissioner of central CST K Anpazhakan said, "Earlier, companies had to open a warehouse in each state just to avoid the central sales tax and that would add to their cost. The new GST tax regime will help in reducing the overall administration cost for companies by almost four to five percent."