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GST beneficial for all sections: Mahabubabad Collector
The Goods Service Tax (GST) implemented by the Central government was not only useful to costumers but also for those who were into various types of businesses, said District Collector Dr. Preethi Meena in Mahabubabad on Thursday.
Mahabubabad: The Goods Service Tax (GST) implemented by the Central government was not only useful to costumers but also for those who were into various types of businesses, said District Collector Dr. Preethi Meena in Mahabubabad on Thursday.
She was participating in an awareness camp on GST organised for the traders, businessmen and the customers at the Collectorate under the aegis of the Department of Commerce.
In her speech, Collector Meena said that various programmes were being organised for creating awareness among the people and traders on the GST. There was a flexibility in the implementation of GST.
The traders and the businessmen need not pay taxes if there was a turnover of Rs.20 lakhs per year in their business, she added. The GST was applicable for only those traders and businessmen whose turnover was more than Rs 25 lakh, informed the District Collector.
The Collector also said that there were many businessmen and traders in the District whoseturnover was not exceeding more than Rs.20 lakhs and an exemption was given to such traders from GST.
She said after the decision of demonetisation of high value currency notes, the central government implemented the GST as one more step forward towards the development of the nation.
As a result, 17 types of taxes which were imposed earlier had been scrapped, pointed out the District Collector.
With the implementation of GST, there was a chance in the decrease of prices of so many goods along with increasing of GDP rate. The persons who were paying taxes under GST, must produce their pan cards along with their digital signature, the Collector added.
District Commercial Officer Sagar cleared all the doubts expressed by several traders and businessmen in the awareness camp.
