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Odisha played key role in GST rollout: CM Naveen

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Bhubaneswar: Hours after Goods and Services Tax (GST)– India’s biggest tax reform since Independence– rolled out, Odisha Chief Minister Naveen Patnaik today said that the state played an “important” role in it.

Taking to Twitter, Patnaik congratulated everyone and said the implementation of GST should be smooth and doubts and concerns to benefit the common man, trade, commerce & industry should be taken care of.

Worth mentioning, the Odisha Goods and Services Tax Bill-2017 was passed in the special session of the state assembly on May 19.

Notably, the GST is expected to check tax evasion and broaden tax base. In the new regime, all filings will be done only through electronic mode to ensure non-intrusive administration. This will minimise taxpayers’ physical interaction with the tax officials.

The GST regime seeks to reduce rates of over 50 per cent of items of daily use and charge others at much lower rate of 5 per cent, 12 per cent and 18 per cent.

A higher tax rate is imposed on luxury and sin goods at 28 per cent in the new regime. Certain services like telephone, banking and insurance are expected to feel the pinch of higher taxes.

The GST also promises taxpayers a refund against their sales within 60 days. Similarly, exporters will get refund within seven days. For protection of consumer rights, the new law provides anti-profiteering provisions. In a departure from the normal practice, the GST will be administered together by the Centre and the states. (With IANS inputs)