A workshop cum awareness programme on implementation of GST (Goods Services Tax) was organized by Commercial Taxation Department in collaboration with District Administration under the Chairmanship of District Development Commissioner Budgam.
The day long workshop among others was also attended by DC Commercial, Deputy Taxation Commission, Officers of Taxation Department besides local business faculty and others concerned.
On the occasion, a special presentation on the implementation of GST was presented depicting its implications and future taxations. In general, as it is being called revolution in the taxation format as “One Nation One Tax”. Pertinently it is imperative for business and traders faculty to shift to the new system of GST format.
During the mutual interaction, special emphasis was given to aware the participants particularly business faculty as how they should change their pattern of doing billing & invoices under new GST format. Despite this, being a dual GST with equal share of Centre and State simultaneously leaving it on a consumption tax basic. During interaction the participants were also informed about on what products and goods the GST is applicable, as some items including 05 petroleum products have been left out of the GST.
Addressing the participants DDC said that on the beginning, the business community may feel inconveniences in shifting to the new system of taxation but with the passage of time things would normalize and everything will run smoothly. He said it is need of the hour to aware all stake holders particularly traders & businessman and others concerned about this new system of taxation.