Telangana to Organise Awareness Conferences to Help People Understand GST Better
Telangana government will be organising awareness conferences all over the State to create awareness among the people and businessmen about the newly introduced Goods and Services Tax (GST) by the Centre.
Telangana chief minister K Chandrasekhar Rao. (PTI file photo)
New Delhi: Telangana government will be organising awareness conferences all over the State to create awareness among the people and businessmen about the newly introduced Goods and Services Tax (GST) by the Centre.
The conferences will be held on July 5, 6 and 7th in 91 Circles under the Commercial taxes department, where the officials will clarify all the doubts among the traders, businessmen and general people on the GST and also inform them on how the GST is implemented? How much tax one should pay on what turnover?
After a review meeting with officials, chief minister K Chandrashekhar Rao said, "The Centre has decided to implement the GST throughout the country. All states have to implement it and we are also implementing it. There are divergent opinions on whether implementation of the GST is profitable or not and who will suffer the loss? There is a need to get a clarification in these issues."
"There are some plus points on the implementation of the GST. Businessmen whose annual turn over is below Rs 20 Lakh need not pay any tax. For those having turnover between Rs 20 to Rs 75 Lakh, the tax is only one percent. This is a positive aspect," the CM press note added.
The review meeting also deliberated if the GST will be good for the State and whether is it is going to be profitable? Will it burden the people with tax and what will be its effect on the state's revenue?
The offcials pointed out that since Petroleum and excise are exempted from the GST, the GST will have no adverse effect on 50 percent of the state's revenue. Since the Centre has to give the State its share in the increased revenues, the state's allocation in the Centre's funds will increase. On an average, about Rs 2,000 to 3,000 Crore more income, the state will get per year.
"Fundamentally it appears that by GST, the state has something to gain and not much to lose. Measures will be taken so that small businessmen are not at a loss. GST will be very useful in catching the tax evaders. This will generate more revenues which can be used for the development and welfare schemes in the State," the CM observed.
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