Speed Post News Network
New Delhi : Union Road Transport & Highways and MSME Minister Nitin Gadkari on July 1, 2021, said that GST will help achieve the vision of five trillion dollar Indian economy by 2025.
Addressing a webinar on the “GST Day” on the theme ” THE JOURNEY OF GST AND WAY FORWARD – AATMANIRBHAR BHARAT” organised by the Institute of Cost Accountants of India, Gadkarisaid said GST is founded on the notion of “One Nation, One Market, One Tax” which has helped and will be helping the trade and industry a lot despite the prevailing pandemic situation. He said Goods and Services Tax was implemented from July 1, 2017, and now it has completed four years of its implementation, during which a remarkable change is seen in the way the business is being carried out, according to a PIB release.
Gadkari said digitalisation and information technology have an important role to play. He said for transparent and time bound decision making process Performance Audit along with Financial Audit is very important. Talking about the problems facing the MSMEs, he said delayed payments are the main cause of concern which has to be resolved. The minister said though GST has completed four years there is still room for improvement . He said cooperation, coordination, communication, and rectification is needed from all stakeholders.
Gadkari complimented The Institute of Cost Accountants of India for conducting regular webinars, seminars, various courses for different stake-holders across the country to unlearn and relearn new subjects which are need of the hour to survive in the New Normal.