GST increased pace of formalisation of economy: Goa CM

Goa Chief Minister Pramod Sawant on Monday said that GST has increased the pace of formalisation of the economy and has incorporated ease of doing business beneficial for all companies and enterprises.

Sawant was speaking during a program organised by the Goa Chamber of Commerce and Industries-GCCI.

“GST has brought the country under One Indirect Tax regime, making the entire country a unified market. GST has increased the pace of formalisation of the economy and has incorporated ease of doing business beneficial for all companies and enterprises,” Sawant said.

He stated that the government of Goa is extending all the necessary support to businesses to thrive and hence has not increased any taxes in the last budget.

Sawant informed that this pro-business decision has ensured that Goa continues to witness a consistent rise in Tax revenues.

He reaffirmed that the Goa government shall continue to strive toward creating a more efficient and business-friendly tax environment that benefits all the sectors in Goa equally.

“I thank all the stakeholders for their contribution to the smooth operation of the GST and the development of our state,” he said.