The introduction of GST is a welcome move and “in spite of certain teething troubles and short-term pains in the initial stages, it will most certainly bring long-term gains,” according to Andhra Pradesh Finance Minister Y Ramakrishnudu.

He was speaking at a programme on GST organised here on Friday by the State Commercial Taxes Department. He said he did not agree with the view of some that GST should have been postponed.

“Now is the right time and it is pointless to seek some more time, even after debates and discussion on the issue for 14 years,” he said and added that the issue should not be politicised.

Ramakrishnudu said it was agreed the world over that GST would avoid multiple taxation, remove the cascading effect and on the whole make for a more rational tax structure. It would promote ease of doing business.

He said tentatively it was estimated that Andhra Pradesh may suffer revenue loss of ₹2,900 crore due to GST, but it would be compensated by the Centre. He admitted that there were a few problem areas, such as granites, textiles and a few other commodities. “The GST Council will sort out the issues, it is a continuing process. You need not be unduly worried,” he said.

He said the State government was fully prepared to implement GST and the check-posts in the State had been dispensed with.

YS Chowdhary, Union Minister of State for Science and Technology, said it was the most revolutionary tax reform introduced by the Modi government and it would integrate the country into a single market.

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