GST will unite us financially, says Arun Jaitley

RAIPUR: Union finance minister Arun Jaitley has said the Goods and Services Tax (GST) will unite the country economically for the first time.

“The economy and tax structure, most of which were of regressive in nature during the past 70 years didn’t effectively bring tax compliance, and the country remained economically disintegrated.

The one tax, one market for one nation will create a united India benefiting all consumers, traders, manufacturers and the business at large,” he said addressing a gathering of businessmen, traders, lawyers and other professionals who attended a day-long seminar on GST in Raipur on Sunday.

While lauding GST as an efficient system to check tax evasion and eliminate corruption, Jaitley explained various aspects of the new tax system to alleviate the lingering concerns.

He said interference by officials will be limited, since the GST process is being done through an online process. And with more revenue collected through GST, the states will get more funds for development. 

Speaking at the state capital, the Union minister projected Chhattisgarh as the future logistic hub of the country, citing advantages due to the geographical location of the state.