Nitin Gadkari said on the completion of four years of GST that this law was necessary for the country but there is still a lot of scope for improvement in it. Together they advocated bringing petrol and diesel under the purview of GST.
GST is a very good law but still it needs improvement.
Nitin Gadkari on GST: Goods and Services Tax completes four years today. On this occasion, Transport Minister Nitin Gadkari said that this was a huge tax reform and it was also necessary. Along with this, he also said that there is still room for improvement in this. Gadkari said that there is a need to bring states together to bring petroleum products i.e. petrol-diesel and liquor under the purview of GST.
Gadkari said that GST is a very good law but still it needs improvement. For this, he appealed to all the stakeholders to come together. Gadkari said this at a program organized by the Institute of Cost Accountants of India (ICAI) on the completion of four years of GST. Let us tell you that on July 1, 2017, this law was implemented by combining 17 different types of taxes, including excise duty, service tax, value added tax i.e. VAT and many types of cess.
MSME has a lot of problem with this
Nitin Gadkari is known for his outspoken statements. He also has the MSME ministry. He said that there are some loopholes in GST due to which the MSME sector is facing problems. He said that when an MSME sells some goods to a firm, it is the responsibility of the MSME to pay the tax. It does not matter whether the MMSE has received its payment or not. They get late payment which is a big problem.
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