Decision on roll-out of GST Soon, says Mani

THIRUVANANTHAPURAM: The Empowered Committee of State Finance Ministers appointed to prepare a road map for the proposed Goods and Services Tax (GST) will soon arrive at a final decision on its roll-out, Finance Minister K M Mani said on Sunday. Mani, who was part of a visit by the Empowered Committee team to study the European experience during the first week of September, said a final decision will be based on proper appraisal of tax structures abroad as well as on study reports submitted thus far. GST will help simplify the tax structure, ease inter-state trade and prove highly beneficial for a state like Kerala where the services sector played a pivotal role in the economy, the Finance Minister said.Mani said that the tax structure will be simplified as GST will replace numerous indirect taxes levied by central and state governments.  Consequently, the trading community will stand to benefit. Another advantage is that the GST would ease inter-state trade and introduce more transparency in the transactions.