India’s GST reform hailed by BRICS nations

Hangzhou (China): India’s Goods and Services Tax (GST) regime was hailed by the BRICS countries at a meeting of Revenue Heads held here from July 25-27, an official statement said on Friday.

“In the meeting of the BRICS Heads of Revenue and Tax Experts held at Hangzhou, India’s GST reform was appreciated and hailed by the BRICS countries,” a Finance Ministry statement said.

The Indian delegation at the BRICS (Brazil, Russia, India, China and South Africa) meeting was led by Revenue Secretary Hasmukh Adhia.

“The leaders and representatives from BRICS countries were inquisitive about GST reform introduced in India and appreciated efforts of India in bringing about this major reform. During the press conference held after the meeting, the media also inquired about the reforms introduced in India,” it said.

During the meeting, the BRICS Heads of Revenue and tax experts deliberated upon contemporary international tax issues. A joint communique was issued at the end of the meeting.

A Memorandum of Cooperation (MOC) in respect of tax matters identifying areas of cooperation, namely, coordination in international forums, capacity building, experience sharing and regular interaction was also signed. (IANS)