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GST Will Encourage Competition Among Domestic Companies: Hasmukh Adhia
May 09, 2017
Speaking at an FGI (Federation of Gujarat Industries)- organized conference on GST, Revenue Secretary Hasmukh Adhia said apart from streamlining the taxation in the business process all over the country, GST is also likely to make the domestic companies more competitive. Also, since there are multiple points of taxation, GST implementation won’t result in a sudden inflation.
In the current system, there is a problem of cascading taxes, which coupled with thelack of input credit makes it difficult for the domestic firms to give competitive rates against the imported goods. However, GST will level the playing field and thus make business more competitive.
