Union Minister of State for heavy industries and public enterprises Babul Supriyo today said Goods and Services Tax (GST) will expand the tax base and traders and enterprises who evaded tax will now be under the tax net.
"Political opposition is only being done for the sake of opposition and without any valid reason. In all 18 meetings of the council saw full support by all. Only those who never paid tax are pained," Babul said on the sidelines of an event of Institute of Chartered Accountants of India here.
"Has any kirana store given you any bill? These type of traders will now face problem as they never used to pay tax," he said.
Our country's expenditure is about Rs 17-18 lakh crore, while income is Rs 12 lakh crore. GST will help the country bridge this deficit gap," the minister said.
The Eastern India Regional Council (EIRC) of ICAI launched a mobile app during the day to help members stay connected and updated.
EIRC chairman Manish Goyal said it is just a matter of time when clarifications and knowledge on GST will percolate among taxpayers and small businesses.
"By next six months things will get settled," he said.
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