Simplified tax compliance regime to be rolled out by April 1: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said that simplified tax compliance regime will be rolled out by April 1st, this year. Addressing economists and experts as part of Jan Jan Ka Budget held in Hyderabad the minister directed senior officials to conduct district level interactions in person to clear all GST related issues of traders and industry people. The Finance Minister also said, the state governments are also on board with the Central Board of Indirect Taxes and Customs (CBIC) and the state governments also have the responsibility to create awareness about GST.

The Finance Minister said that many aspects have been taken into consideration before imposing cess and taxes in the Budget 2020-21. Minister made it clear that the 5 per cent cess on imports of Medical equipment is applicable to only those equipment which are also produced in India. She further said, the cess collected will be spent on creating medical infrastructure like hospitals in tier-two and tier-three cities in the country.

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