June 26, 2017

WE ARE ALL NEOCONOMIST NOW:

Google CEO Pichai, Walmart India's Iyer hail GST bill as 'game-changing reform' (Sundar Pichai, 6/26/17, Hindustan Times)

Chief executives of tech giant Google and Indian arm of the American retail giant Walmart have hailed the the goods and services tax (GST) bill, calling it "game changing reform".

The GST regime, ready to kick off on July 1, will ease business barriers and help bring down prices of essential commodities in the long run, Walmart India CEO Krish Iyer said, after attending Prime Minister Narendra Modi's , CEOs roundtable conference in the US on Sunday.

"We reiterated our commitment to India. We talked about the various things we do in terms of global sourcing, global technology center and the work that we do in the space of farmer's and women's economic empowerment," Iyer told ANI.

On GST, he said, "I believe that GST is a game changing reform. It is not just a tax reform but is a new way of doing business which will remove a lot of barriers which exist in the country and will eventually help in bringing down the prices of essential commodities."

He added that GST would help small and medium enterprises and suppliers.

GST is claimed to be India's biggest tax reform that will subsume 15 different central and state levies. The GST Council has finalised four slabs under which almost all the commodities and services will be taxed, thus eliminating the cascading effect of the present taxation system.

This is expected to make taxation more transparent, formalise economy and accelerate its growth. 



Posted by at June 26, 2017 1:27 PM

  

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