Information and Broadcasting Minister M. Venkaiah Naidu has said, any troubles in the implementation of Goods and Services Tax (GST) will be overcome shortly.
Addressing a conference on the new tax regime in Chennai this morning, Mr Naidu said, it is historic that the power to decide on taxes has been transferred from the Legislature to the GST Council that is represented by both the Centre and the states.
He said, if any issues are brought to the notice of the Council, they will be rectified. The Minister also said, GST has resulted in economic integration of the country. He dismissed the charge of hasty implementation of the regime saying that it took 17 years to come to its implementation. He hailed GST as another weapon to counter corruption.
Touching upon the suggestion to have a single GST rate system, Mr Naidu said, the time is not yet ripe for such a mechanism as there are economic disparities in the society that needs to be taken into account. He, however, expressed the hope that in future, the system would move towards that goal.
Mr Naidu was also felicitated at the meeting for his selection as the President of the UN-HABITAT, a United Nations body on housing.