Government is examining the feedback of stakeholders on business processes regarding the proposed Goods and Services Tax (GST) regime, CBEC Chairman Najib Shah said today.
“The GST success is predicate on the IT infrastructure… The business processes which are already in the public domain — registration, return, refund and payments — we are getting the responses, we are examining those responses,” he said in a keynote address on ‘Taxation Issues and the way Forward for GST and FDI’ at CII’s Retail Summit here.
Talking about various aspects of the GST, Shah said the proposed indirect tax regime would substantially mitigate the cascading effect of taxes and create a national common market.
“It should also reduce litigation, it should also increase our revenue. As you are aware we are waiting for the passage of the Constitution Amendment Bill in Parliament. The success of the GST lies with the fact that…seamless flow and no breakage in the taxation chain”, he said.