消费税将消除棉花的差距

'GST will remove disparity in cotton, MMF excise duty'

The implementation of the Goods and Services Tax (GST), now likely in second half of next year, will create a level playing field by removing the disparity of excise duty between cotton and man-made fibre (MMF) sectors, according to an expert. This will spur growth in the country’s textile sector, which contributed nearly 15 per cent to exports in 2015-16.

“It (GST) will remove the current disparity of excise duty between cotton and man-made fibre. This will also spur growth and the country is expected to again surpass Bangladesh and Vietnam in garment exports in the next three years,” said S Kannan, CFO, Brands and Retail, Arvind Lifestyle Brands. He was addressing the Confederation of Indian Industry (CII) annual CFO Conclave on the topic ‘India Competitiveness: Growth Opportunities and Challenges’ in Bengaluru.

He said chief finance officers (CFO) must prepare their organisations for regulatory changes that would come in with the implementation of the GST. According to him, “GST, though a huge opportunity for companies, can be a minefield as well if an organisation is not equipped to implement it”.

Murali Ganesh, CFO, ITC Foods, said the “GST will lead to a paperless taxation process that will reduce errors and bring in transparency, widening the scope of the tax base.”

译文如下：

消费税将消除棉花的差距

消费税(GST)可能在明年下半年实施,通过消除棉花和人造纤维(MMF)行业消费税的差距从而将创建一个公平竞争的环境,据一位专家。这将刺激该国纺织行业的增长，2015-2016年度纺织行业贡献了近15%的出口。

“它(销售税)将删除当前棉花和人造纤维之间消费税的差距。这也将刺激该国经济增长，在未来的三年里该国的服装出口预计将再次超过孟加拉国和越南,” Arvind生活方式品牌首席财务官S Kannan说。他在参加在班加罗尔举行的印度工业联合会(CII)主题为“印度竞争力:增长机遇和挑战”的年度财务总监会议。

他说,首席财务官(CFO)必须准备他们组织的监管改革与消费税的实施。根据他的说法,“销售税,尽管对于企业来说是一个巨大的机会,但也可以是一个雷区,如果一个组织并不准备实施它”。

ITC食品的CFO Murali Ganesh说，“销售税将导致无纸化税务流程,减少错误并引进透明度,扩大税基的范围。”