The tax burden will go down by as much as 25-30 per cent
on tax payers after introduction of Goods and Service
Tax (GST), Revenue Secretary, P.V. Bhide said on
Wednesday.
He was speaking at the national conference, 'GST -
Roadmap To 2010' organised by Assocham. He added, "The
real estate would be brought under GST net since
discussions in this regard between centre and states are
almost conclusive." However, he refused to share more
details on the same.
Responding to a query on difference of views on certain
GST issues between Empowered Committee of State Finance
Ministers as well as the 13th Finance Commission, Bhide
admitted that there are divergent views on certain
issues relating to GST between the two. He added, the
distortions in existing direct and indirect tax system
will be removed and addressed to once the GST is put in
place.
