NO MORE CENTRAL EXCISE DAY – GST IS COMING

            On the occasion of Central Excise day at a function held at Birla Matoshree Auditorium at Marine Lines, Mumbai, Mr Devendra Fadnavis, the Chief Minister of Maharashtra, graced the occasion and delivered his speech expressed his happiness and greeted the entire fraternity on the occasion.  He said that in future there will be no Central Excise Day, it is the last such function because the tax regime will change and GST will come into existence in 2016.  For bonding between Centre and State and effective administration the organizers, in anticipation, had invited him. 

            Mumbai, contributes nearly 12 per cent of the Central Excise revenue and one third of the country's Service Tax revenue, and the Chief Minister believes that after the Implementation of Goods and Service Tax (GST), the revenue through tax collec­tion will increase.

            The Chief Minister has also emphasized the need for cooperation between the Centre and the states to ensure a smooth transition to GST, the implementation of which has been proposed for April 2016.

            The Chief Minister reminded the gathering that when value-added tax (VAT) had been introduced, some states opposed it, anticipating revenue collec­tion losses. However, every­body accepted it later.

            "Now, the Central govern­ment is planning to imple­ment GST from April 2016, it will definitely be benefi­cial for both state and traders," Mr Fadnavis said.

            Recalling his Davos tour for the International Investment Summit, Mr Fadnavis said, "Global investors are opting for India for investment. For that we must have a firm and easy tax system and investment friendly atmos­phere." He emphasized on the need for cooperation between the Centre and the states to ensure smooth transition to GST, saying that GST would strengthen cooperative federalism.