Chhattisgarh: Tax and Economic Reforms

 

Tax reforms are very important for the graceful implementation of tax structure of any state. It boosts tax payers to pay the taxes and to fill the government exchequer.

 

Tax Reforms:

Several tax reforms have been implemented to make the payment and collections of taxes a painless exercise for Businesses operating in the State. Some of the major reforms have been:

Congregating all major taxes in GST

Simplification of application forms and procedure of approval

Single ID for all State taxes; Online payment and return filing system

No check posts required for tax filing and payment

No Business premises inspection required for VAT registration

Going forward there will be no manual intervention in any process

Online system for registration under entertainment tax.

Online return filing and online payment of tax.

 

Economic Reforms:

The state will be implementing GST in coming time, which is a major boost for the economy of the state.

Goods and Services tax (GST) has been identified as one of most important tax reforms post-independence. It is a tax trigger, which will lead to business transformation for all major industries.

The Government of India seems to be on course to implementing GST with effect from 1 July 2017.

State will be benefited from GST in the following ways:

  • Wider tax base, necessary for lowering the tax rates and eliminating classification disputes
  • Rationalization of tax structure and simplification of compliance procedures
  • Harmonization of center and State tax administrations, which would reduce duplication and compliance costs
  • Elimination of multiplicity of taxes and their cascading effects

 

Non-conventional energy sources have been accorded very high priority. A special agency called CREDA (Chhattisgarh Renewable Energy Development Agency) has been set up, and over 1200 villages in dense forests are being electrified using off-grid energy. Micro-Hydel power potential is also being tapped in a bring way, and several projects have been identified for viable private investment.

Direct Benefit is another major step taken by government of Chhattisgarh towards economic reforms. The state enabled DBT to the beneficiaries account. It will increase the transparency and decrease the need of middleman. The DBT us being used for

PDS shops

NREGA works

Cooking gas cylinders etc

 

 

CGPCS Notes brings Prelims and Mains programs for CGPCS Prelims and CGPCS Mains Exam preparation. Various Programs initiated by CGPCS Notes are as follows:-

Leave a Reply

avatar
  Subscribe  
Notify of