GST will help minimise corruption

Commercial Taxes Commissioner P. Mara Pandiyan has said that the introduction of Goods and Services Tax will be helpful in minimising corruption and revenue leakage. Addressing a seminar on Goods and Service Tax, organised by Kerala Chamber of Commerce and Industry here on Saturday, he said it would annul the cascading effect of multiple taxation. 
He said the cumulative rate of tax chargeable under the GST regime would be less. It would be beneficial to consumer States such as Kerala. A unified tax structure would improve tax collection while reducing distortions. There would be less delay and hassles. An authority for settling inter-State disputes in respect of taxation was likely to be set up. There would be a common exemption limit for the union government as well as the States. Petroleum products and Indian made foreign liquor would be outside the purview of GST, he said. The trade would benefit from simple tax forms and maintenance of minimum records. Hassle-free assessment procedures and electronic filing would be added advantages to the trade.
Experts in taxation and allied matters, R. Krishna Iyer, S.Srinath, and Jayasankaran Nambiar, spoke. K.M. Abdulla, Chairman, Kerala Chamber of Commerce and Industry, welcomed the gathering. C.P. Jain, Director, KCCI, proposed a vote of thanks.

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