Prof. S.C Sharma of ICFAI Business School (IBS Gurgaon) Explains Benefits of GST

HYDERABAD, India - Aug. 23, 2017 - PRLog -- In a seminar held at Integral University, Lucknow Prof S.C Sharma Director of IBS Gurgaon explains the many advantages of recently implemented Goods and Service Tax (GST) in Indian economy. During his lecture on GST to the students, he explains the positive effect will be seen in future of Indian economy in a gap of five to ten years. GST is the largest tax system reform which is implemented in India.

On Monday Prof S.C Sharma attended the seminar as a chief guest. The seminar was organized under the supervision of ICFAI Business School (http://general.ibsindia.org/landingpage6/index.asp??utm_source=app&utm_medium=prlog) along with the faculty of Commerce and Management of Integral University.

The subject of the seminar was "Implementing GST: What It Begins with It for India Seminar". Prof S.C Sharma accent more on solving the confusion regarding GST in common people and businessman.

While asking about the impact of GST on Indian economy he said, "due to implementation of 'one country-one tax' system, huge amount of money will come in country's empty treasures and in states as well." Further he added, "GST will strengthen country's infrastructure and will development schemes of the country in future, including development schemes, will accelerate growth of our nation at global level."

Asking about inflation which is a major concern for common citizen of India he said, " that inflation will increase first by GST and then it will be stable and will gradually decrease"

The Keynotes of Seminar were:

·         GST will gradually strengthen the country's economy.

·         No unregistered businessmen or person will be able to do business if there is no GST number.

·         The number of tax payers will increase, more than this money will come in the government treasury. This money will work in development of country.

·         The money will remain in the treasury; the government will not have to borrow from RBI or overseas for big projects.

·         The costs of the logistics sector will be greatly reduced. Since the country's economy has a large role in development. That's why the economy will improve

·         Country's GDP will increase gradually.

About ICFAI Business School:

ICFAI Business School (IBS) is a constituent of ICFAI group and was incepted in 1995. Since then it is providing quality business and management programs and is one of the pioneer B –School in India. ICFAI Business School provides globally accepted programs and 100% case based learning. MBA/PGPM Program offered by IBS Business School in 9 campuses across India. Ahmedabad, Bengaluru, Gurgaon, Kolkata, Mumbai and Pune campuses provide PGPM program and Dehradun, Hyderabad and Jaipur provide MBA program.

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