'The sincere determination and the persistent efforts of the government in consensus building and gaining support of almost all political parties in reaching to an agreement so far is indeed commendable', said Dr Naushad Forbes, President, CII.
Dr Forbes also commented that, 'while government has left no stone unturned to seek a consensus, the willingness and maturity of the key opposition party in terms of understanding the issues and straightening out the differences is indeed praiseworthy. Industry can now think of 'One India', which was truly pursued by all political parties in true letter and spirit, and hopefully the Bill will see the light of the day tomorrow', said Dr Forbes.
GST is India's most significant tax reform in decades. GST, when implemented, is expected to usher in a harmonised national market of goods and services and shall lead to a simplified, assessee-friendly tax administration system. Once implemented, it will subsume most of the country's central and state level duties and taxes, thus making the country a national market and contribute significantly to the growth of the economy', Dr Forbes further commented.
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