Amit Bhagart, Partner- Indirect Tax, PwC, discusses the inefficiencies in the current tax sector and how the GST will be the solution, in conversation with Chahat Jain of BW|Businessworld.
Bhagart further mentions that there is too much of a radical shift from how we operate today and how indirect taxes are administered.
While he agrees that the crashing crude oil prices did help government in maintenance of the fiscal numbers he, however, says that it is not the only reason and that there are other positive steps that government has taken. He adds that any kind of lobbying for a fiscal measure is not justifiable and is against national economic growth.
Furthermore, Bhagart claims that the GST is something everyone is looking forward to and is something which is bound to be a game changer.