Union minister Arjun Ram Meghwal today said the government was committed to make the Goods and Services Tax (GST) a "good and simple tax".
"The GST is still in its initial phase. We are continuously studying and simplifying the difficulties faced by the trade and industry to maintain its real essence. The government is committed to make it a good and simple tax," the Union Minister of State for Finance told a gathering of tax officials and traders here.
He described the new tax regime as a "historic reform", which would connect the informal economy with the formal one.
"Asia will be the driving force in the world in the 21st century and economic reforms like the GST will put India ahead of England, Japan, France and Germany," said Meghwal.
He added that 40 ministers and officials were touring the country as per the direction of Prime Minister Narendra Modi to understand the practical problems under the new tax regime and take suggestions for its effective implementation.
The Union minister heard the grievances of marble traders, cloth merchants, handicrafts manufacturers and assured them that their issues would be taken up at the meeting of the GST council on priority.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
