Lucknow: The director of ICFAI Business School Gurgaon, Professor S.C Sharma today attended a seminar at Integral University in the state capital during which he described several benefits of recently implemented India’s historic reform Goods and Services Tax (GST).
During the program, Professor Sharma delivered a small lecture on GST which has been implemented from 1st July and explained students that how a positive impact will be seen in future on Indian economy after a gap of five to ten years of this largest tax system reform.
Professor, Sharma on Monday attended function as the chief guest that was organized under the supervision of ICFAI Business School along with the Faculty of Commerce and Management of Integral University.
The Chief Guest explained many benefits of GST this function which was organised with the name of ‘Implementing GST: What It Begins with It for India Seminar’.
ICFAI Business School director explain benefits of GST in Lucknow:
He emphasized the need to remove confusion in common people and businessmen towards implementing GST. Professor, Sharma insisted that due to implementation of ‘one country-one tax’ system, huge amount of money will come in country’s empty treasures and in states as well.
Sharma also added that this will strengthen country’s infrastructure and will development schemes of the country in future, including development schemes, will accelerate growth of our nation at global level.
While addressing teachers and children present in the seminar, IBS director claimed that inflation will increase first by GST and then it will be stable and will gradually decrease.
Here are some key points delivered by Professor Sharma during his lecture about for reaching results of GST:
* GST will gradually strengthen the country’s economy.
* No unregistered businessmen or person will be able to do business if there is no GST number.
* The number of tax payers will increase, more than this money will come in the government treasury. This money will work in development of country.
* The money will remain in the treasury; the government will not have to borrow from RBI or overseas for big projects.
* The costs of the logistics sector will be greatly reduced. Since the country’s economy has a large role in development. That’s why the economy will improve
* Country’s GDP will increase gradually.
 at Integral University in Lucknow.){kind=link}