Skip to main content

Invest more into rural broadband for implementing GST: PHD Chamber

PHD Chamber of Commerce and Industry has urged the government to invest more in broadband infrastructure and its availability to over 600 districts in India for smooth GST implementation

Related Category: Sub Category:

PHD Chamber of Commerce and Industry on Friday has urged the government to invest in broadband infrastructure and its availability to over 600 districts in India as multiple business communities in and around them are facilitated for smooth GST implementation following its smooth passage in the Parliament.
The Chamber which organised a Seminar on “Implementation of GST in Insurance Industry” in Delhi today also recommended to the GST Council that given the wider mass appeal of insurance and the focus of the government to rope in farmers and Aam Aadmi (common men) well within its ambit, the GST rate for insurance be pegged at 12 percent and even lower.
Presiding over the seminar, the Sr. Vice President, PHD Chamber, Anil Khaitan emphasised that broadband connectivity is an issue in rural India where industries are operational and that now GST has become a reality, its smooth implementation could happen provided adequate broadband availability is ensured in every nook and corner of the country.
This, according to him would need lot of investment with a time tag because industry expects GST implementation from July 1, 2017, which could happen without any hitch with sufficient internet connectivity since GST would be a paperless taxation.
The Chamber also demanded that insurance is quite a sensitive sector in which multiple stakeholders would have participation including those of farmers and vulnerables, therefore, the GST Council should be so sympathetic as to keep GST rates on insurance at 12 percent and if possible even below.
Inaugurating the seminar, former Chairman, Central Board of Excise and Customs, SK Goel urged the industry to submit its concerns relating to GST rates as also the ways and means through which it should be implemented to GST Council so that their addressal becomes timely before the rates are finalised.
Chairman, Indirect Taxes Committee, PHD Chamber, Bimal Jain in his remarks clarified that GST registration would have to be multi-locational given its nature and supplies of goods and services since it would be a destination based consumption tax.

Votes with an average with

Related Story

Commercial drones market to reach US$ 8.89 bn by 2025

The global commercial drones market is forecast to exhibit a compound annual growth rate (CAGR) of 13.8 percent between 2017 and 2025. At this pace. The market’s valuation is expected to reach US…

Crystal Crop Protection Launches Five New Products for Farmers

New Delhi- based Crystal Crop Protection, a leading agrochemical company launched a basket of products for farmers that are going to revolutionise crop protection and improve productivity for…

Agriculture micronutrients market to reach US$ 13,344 mn by 2024

The global agriculture micronutrients market is anticipated to expand at a compound annual growth rate (CAGR) of 8.3 percent in terms of revenue from 2016 to 2024, to reach a market value of US$…

infinity banner