GST has given a strong foundation to the Indian economy based on cooperation and consensus.
Everyone, regardless of party affiliation, came forward to support a tough system like GST at the national level on July 1, 2017.
Deputy Chief Minister Jishnu Debbarma said it while inaugurating the 5th anniversary of GST at the conference hall of Hanpania International Fair Grounds organized by the Finance Department on Thursday.
A total of 26 best tax-paying companies including ONGC, GAIL, Shyamsundar Jewellers, Mohul Boutique were felicitated in this event on Thursday.
The Deputy Chief Minister said that paying taxes is the responsibility of a citizen.
GST was introduced across India 5 years ago to simplify the taxation system to fulfill this obligation.
Deputy CM said that as a result, one country, one market and one tax system have been introduced.
He also said that Prime Minister Narendra Modi feels that the success of any government program is not possible without the participation of the public.
Therefore, the success of GST in India’s tax system in 5 years is being celebrated with full public participation.
Earlier the amount of tax collection was less as taxation system was very complex. Thus, the country had to face financial loss.
However, the number of people paying tax in the country is increasing every year with the introduction of GST.
He also said that the backbone of the Indian economy is micro, small and medium industries.
26 Taxpayers were felicitated. It was encouraging to see the 90 year senior citizen Sri Dulal Roy Chowdhury of M/s Standard Mart receive the certificate for outstanding taxpayer.
The function was attended by Sri Brijesh Pandey finance Secy Tripura and Chief Comm of Taxes Tripura.
GST has introduced transparency in the tax through automated IT system .
Out of 230 items that was in the 28 per cent now only 30 luxury items. GST has brought down taxes of many goods and services.
All decisions are taken through consensus in the GST Council composed of all states and the Centre. It has become a unique constitutional body of Federal Cooperation in National Interest.