GST a force multiplier for economy: Shivraj Singh Chouhan

BHOPAL: Terming goods and service tax (GST) as a transformative step, chief minister Shivraj Singh Chouhan said ‘one country one tax’ would improve the ease of doing business.
“GST has a multiplier effect on our economy – increasing tax compliance, fostering growth, ensuring seamless movement of goods within the country, binding India into an economic union and improving ease of doing business,” tweeted Chouhan to mark the GST Day on Sunday.
Chouhan retweeted Prime Minister Narendra Modi’s message stating one year of GST was year of growth, simplicity and transparency. It propagated cleaner economy with increasing formalisation as a historic surge in number of registered enterprises was recorded.

State finance minister Jayant Malaiya said, “On GST Day, we are hopeful of new, simpler process and ease of doing business. The proposed meeting of GST Council also hinted at some relief to traders and customers as the Centre has decided to give relief to real estate sector in coming days by reducing tax slab from 28% to 18%.”
Madhya Pradesh is looking at 14% annual growth in the revenue after the new GST regime, the government has collected feedback from traders and small business houses to recommend changes for more reforms in new tax regime, officials said.
Officials of commercial tax department said complaints pertaining to simplification of filing returns, change in tax slabs on essential goods to remove glitches in online submission of forms and scrapping penalties on delay were some of the issues raised by traders during discussions on completion of first year of new tax regime.
The government is enthused over a considerable increase in number of enterprises registered, invoices processed, increase in returns filed and e-way bills generated, said officials.