India’s GST reforms have been appreciated by the BRICS (Brazil, Russia, India, China and South Africa) countries at a revenue meet held at Hangzhou, China.
The leaders and representatives from BRICS countries were curious about the GST Reforms which were introduced in India on 1st July this year.
Not only this, media from these countries enquired about the GST reforms. The Indian delegation was led by Dr. Hasmukh Adhia, Revenue Secretary of India, who explained the salient features and advantages of the reforms to the media.
During this meeting, the BRICS Heads of Revenue and Tax Experts held discussions on contemporary international Tax issues. A joint communiqué was issued at the end of the meeting.
The Revenue heads of the respective countries have also signed 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.