Tuesday , December 10 2019
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President Kovind inaugurates platinum jubilee celebrations of ICAI

Congratulating citizens for successful roll-out of GST, President Kovind said that GST has reduced prices of many categories of goods and services and benefited consumers and end-users. It has simplified procedures for small and medium entrepreneurs. 

President Ram Nath Kovind said that a massive Rs. 45,000 crore of GST refunds have been made till date – entirely online and through digital banking. Terming GST a gigantic reform, president said that about 350 crore invoices have been processed.

Urging the society to adhere to a fairer taxation system, President Kovind said that it is our solemn duty to contribute and share much more than providing revenue to the government.

“Taxes are what we pay to get social benefits in the form of public goods and services, health and education facilities, better infrastructure, law and order, and secure borders. It is crucial that this responsibility is shared by the widest possible number of citizens – whether they pay taxes directly or indirectly. It is the solemn duty of each one of us to contribute to the society that we share and the nation that we are part of,” he said.

The President said that chartered accountants have a key role in advancing such a culture. They are both facilitators of tax payers and of the taxation system as well as watchdogs of public trust. “In many respects, a tax system is only as complicated as they want to make it. As professionals, it is their legitimate right to advise their clients on tax planning,” he said.