After independence this is the biggest tax reform!
The Goods And Service Tax Regime, completely renovates the economic design of modern India with respect to matters of taxation as it would merge both the indirect taxes i.e. the central excise and the service tax imposed by Centre and VAT, local taxes collected by states. Perhaps GST will completely transform the way the business is done in India, the way industries operate in India. It will bring in lot of efficiency into the Indian economy by reduction of transaction costs and faster movement of goods across the country. I sincerely believe that GST will give a big boost to FOOTEAR, leather accessories and our manufacturing sector.
Chairman – Council for Footwear Leather & Accessories