ASSOCHAM president Sandeep Jajodiya on Friday said the implementation of Goods and Services Tax (GST) will boost India's GDP and will improve its image as an investor friendly country.
"The first few months will have issues, but one has to work with the government closely to make this tax reform friendlier. It is the industries duty to work closely with the government and to not get bothered with the hitches and glitches of the new tax reform as anything new takes time teething," said Jajodiya ahead of Prime Minister Narendra Modi Government's grand celebration to mark the rollout of the Goods and Services Tax (GST) at a special midnight session of the Parliament.
"India's image in terms of ease of doing business will go up many notches. Also, economically, GST will make a big contribution to the GST."
"The government is very conscious about the issues that people are raising about the technicalities and technology in regards to GST, but they sure have plans to resolve those issues," added Jajodiya while suggesting that one has to be very positive and cooperative with the government.
Adding to this, he said that the concerns related to GST will always be there, but they will hardly last beyond a few months.
The GST is slated to be rolled at midnight today.
It will bring the Indian economy under a single tax bracket.
However, it is said to be extremely beneficial to consumers, as it will bring down the price of goods and curb inflation.