the National Academy of Customs, Indirect Taxes and Narcotics (NACIN) Campus in
the Bengaluru on 29th May, the Union Finance Minister Shri Arun
Jaitley said that Indirect Taxation regime in the country will play a key role
and is undergoing a vital change. He said that the present multiple
taxation system is transformed into the Goods and Services Tax (GST) and all
the taxes are amalgamated.
further, the Finance Minister said that the new GST regime will come into
effect from July 1, 2017. GST is an efficient tax system which not only checks
tax evasion but it also help evolving India to become very strong
society. Speaking further on the occasion, the Finance Minister Shri
Jaitley said that the new Indirect Tax is a product of federal India. He added
that the Centre and the States will jointly administer and decide the
taxes. Coordination between taxation authority of Centre and States is
also important. He said that the tax training academy NACIN, which has come-up
in Bengaluru to impart training to officers of Central and State Governments
and PSUs has to play a vital role.
on the occasion, Smt.Vanaja N. Sarna, Chairperson, CBEC highlighted the
contributions of NACIN. Shri D.P.Nagendra Kumar, Principal Director
General, NACIN, gave an overview of the new NACIN Complex. Shri S.Ramesh,
Member (Admn.), CBIC welcomed the dignitaries on this occasion while Shri P. K.
Dash, Pr. Additonal Director General, NACIN, proposed a vote of thanks.