India Today Television is holding a special conclave on the upcoming new tax regime, to be held at Hotel Taj Mansingh on Friday (June 30th). Get Set GST – Midnight Conclave, Tryst with Tax will see some of the best-known economists, policy makers and representatives of the government and Industry brainstorm on the Goods and Services Tax (GST) that is expected to end indirect taxes and lead to the biggest tax reform in Independent India.
Come July 1, India will bring the single-tax system, GST, which is expected to not just change the Indian economic history but also do away with state barriers to the nation’s aspirations of becoming a single market, boosting the economy and development initiatives and remove hidden taxes.
However, like any ambitious first-ever plan, the implementation of GST is not free of jagged edges. Apart from apprehensions of all-round commodity price rise (experienced in all other countries where GST was enforced) questions about viability and lack of clarity overshadow the proposed tax system.
Will the Micro, Small and Medium enterprises be able to withstand the digital imperatives of GST? Though they are the very backbone of the Indian economy, majority of Indian MSMEs are low on technological and online usage. Will GST come a cropper? How will the government ensure these businesses are up-to-date for the new tax system?
The all-day Get Set GST – Midnight Conclave, Tryst with Tax conclave is being seen as a platform where economists, policy makers and government representatives will discuss and debate in order to further bring out the salience of the proposed tax system. Key speakers include Union ministers Arun Jaitley (Corporate Affairs, Finance and Defence), Venkaiah Naidu (Urban Development, I&B, Housing and Urban Poverty Alleviation) and Nitin Gadkari (Road Transport and Highways). Union ministers of state Jayant Sinha (Civil Aviation), Nirmala Sitharaman, (Commerce & Industry) and Piyush Goyal (New & Renewable Energy, Mines, Power, Coal) along with Niti Aayog’s Arvind Panagariya (Vice-Chairman) and Bibek Debroy (Member). Certain sessions will see former FICCI chief and West Bengal Finance Minister Amit Mitra and CII President Shobana Kamineni among other experts.