Following the execution of GST, Union Minister for Labour and Employment Bandaru Dattatreya stated on Saturday that the Goods and Services Tax (GST) will help to create one lakh job opportunities in the initial three months.
Over 60,000 people would receive job in the accountancy sector, he stated.
After the implementation of Goods and Service Tax on Saturday, Minister said, it was similar to the nation attaining economic and tax liberty.
Mr Dattatreya stated over the GST awareness campaign, Union Finance Ministry with the collaboration of different institutions organized 1,118 workshops in Telangana and Andhra Pradesh states in the previous six months for the advantage of the trade community and common public.
Over 150 GST Seva Kendras were established which comprises full details was also made accessible to assist the traders, he stated.
Mr Dattatreya asserted that with the execution of GST, about 17 types of taxes were eliminated and tax system was included. From over 1,500 slabs in the tax system, only four taxes have been left now.
He affirmed that, “From now onwards there will be no holdup in the transfer of goods as the check-posts located at various state borders were eliminated.”
After the GST implementation, the GDP development will take a rise from seven to 9% and expansion will see a descending pattern as the costs of necessary items will descend, he included.