GST to be introduced

KOCHI: The Indirect Tax Revenue has increased substantially after the introduction of Value Added Tax, Excise Minister K Babu said here the other day. "Now, we are gearing up for the introduction of Goods and Sales Tax (GST) and chartered accountants have a significant role in the successful implementation of GST", Babu said after inaugurating the AllKerala Chartered Accountants Tax Conference. "The Union Finance Minister has instructed all the state governments to necessarily convert to the double entry system in accounting within a short span of time. The audit of accounts in Central Excise shall definitely be considered as it is a good revenue generating department for the government. Chartered Accountants have offered their support to the cause," Babu said. ENS