GST will benefit economy, honest tax-payers: Prez

Expressing satisfaction over the successful implementation of the GST, President Ram Nath Kovind said today the new tax regime will benefit the economy and honest tax payers.

Addressing a group of probationers of the Indian Revenue Service (Customs and Central Excise), he said a nation's tax structure should be just, efficient, honest and equitable.

Kovind said the government last year introduced the Goods and Services Tax, the most comprehensive tax reform ever seen by the nation.

He said it was the Indian Revenue Service that had the responsibility of making sure that this mega reform was implemented across the nation and the tax assessees were properly educated about the new system.

 

"It is a matter of satisfaction that the GST regime has been implemented with success, ushering in a progressive tax structure that will benefit the economy and the honest tax-payers. You must build on this good start by working with all stakeholders for ensuring an efficient tax regime," the president said.

"For instance, you should help chartered accountants understand the rules and procedures under the GST regime so that they can ensure better tax compliance by the tax payers whom they advise," he said.

Kovind asked the officers to promote economic activity and curb fraud.

"The forces of globalisation and technological advances, unfortunately, also create avenues for fraud and money laundering. It is your job to promote economic activity and curb fraud. Both these goals are important," he said.

Addressing the probationers, the president said taxes have been the building block of governance since ages.

In ancient times, rulers and kingdoms were judged by the kind of tax systems they had, he said.

As administrators, it is the primary duty of Indian Revenue Service officers to ensure that the country has the tax resources to fund different aspects of national development be it building infrastructure in rural and urban areas, schools and hospitals, defence and security and so on, Kovind said.

"They have to discharge their duty in a way that encourages honest tax compliance with minimum discomfort to tax payers," the president said.

The probationers had called on Kovind at Rashtrapati Bhavan here.