A giant leap in empowering states
28 Feb 2015
Sachin Menon, co-tax and head of indirect tax, KPMG in India: Devolution of 62 per cent of the tax revenue to the states (including state taxes) is giant leap towards empowering states with additional funds to lead local developments. I wish this opportunity could have been leveraged by the FM to address the states revenue concern on introduction of GST, so that it could have taken out resistance to GST, if any.
The announcement that the much awaited GST will be introduced on 1st April 2016, will definitely rejuvenate the industry and the Administrators to expedite the preparations right earnest. The GST will make manufacturing more competitive and thereby support "make in India" Campaign. How fast the FM will move the wheels of change to usher in GST will be keenly watched in the coming days"
