Indore: Individuals and entities can pay taxes online using debit or credit cards once the Goods and Services Tax is rolled out, revenue secretary Hasmukh Adhia said.
The government proposes to roll out the new indirect tax regime from April 1 next year and has made registration, refunds, returns filing and payment processes online.
"With regard to payments, the best thing that will happen is all payments will have to be made online. You can use any mode of payment, electronic, RTGS. You can do it through debit cards or credit cards of any bank.
"You need not open account in banks of government. Even if you have account in a private bank you can transfer money and it will reach the government," Adhia said while addressing the Global Investors Summit here.
He said GST will make it easier for traders and industry to access Input Tax Credit and also ease compliance burden as the entire country will become a single market.
"I would ask the states to focus on the services sector because industry will come on its own once demand increases," Adhia said.
He said India is now taking several reform measures and GST is the biggest tax reform since Independence. Adhia added that GST will also ensure that the taxes deducted by sellers reach the government.
Asked what will happen to excise duty benefits currently enjoyed by units in Jammu and Kashmir as well as Northeastern and hilly states, Adhia said they will be protected in a similar manner. "Instead of giving direct exemptions, we will take it through the Government of India's budgetary route," he said.
Published Date: Oct 24, 2016 10:48 AM | Updated Date: Oct 24, 2016 10:48 AM