Successful implementation of the
Goods and Services Tax (GST) and manufacturing sector reform tops the agenda of the Federation of Indian Chambers of Commerce and Industry (Ficci) this year, Harsh C. Mariwala, the new president of the industry body and chairman of Marico Industries said on Thursday.
"There are several issues that we plan to take up but successful implementation of GST and manufacturing reforms top the agenda of Ficci for this year," Mariwala told reporters.
The finance minister plans to implement the GST tax by April, 2012. However, there are states, mostly BJP-ruled, which are opposed to the idea of GST and are proving to the stumbling block for the implementation.
"There is lot of opposition from some states that have some apprehensions and some unnecessary fears regarding the GST. But there will be more tax collections after GST implementation. I feel that there is a need for the dialogue and once we discuss the matter it will be resolved," Mariwala said.
"We will reach out to the states disagreeing with the proposed GST provisions to resolve their apprehensions. We will go and try to convince the states and also take their ideas to the Centre," Mariwala said. The Centre and the states have been engaged in talks over the proposed GST for about four years. Since 2007, the government has been trying to introduce the new tax regime, under which GST will subsume most of the indirect taxes of the Centre and the states.
GST will do away with most of central indirect taxes, such as excise and service tax, and VAT as well as subsume local levies like octroi and purchase tax at the state level.
"We are already in talks with the Opposition leaders as well as various states. During a recent lunch meeting with a group of BJP Members of Parliament, we found them to be receptive to the idea," Mariwala said.
According to Mariwala, reform in the manufacturing sector is another important agenda for the chamber. Ficci is closely working with the commerce minister on the national manufacturing policy. Inter-departmental consultations are in progress, and the policy is expected to be unveiled by April this year.
Courtesy: Mail Today
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