Friday 7 July 2017

Govt. closely monitoring implementation of GST

Government agencies are keeping a close watch on GST implementation and awareness campaigns are also being conducted. 

A central monitoring committee, comprising of 15 top secretaries, will meet every Tuesday to take stock of the situation.

Clearing misconceptions, Revenue Secretary Hasmukh Adhia said that small traders are not required to issue bills as they are covered under a composition scheme that requires them to pay a fixed tax.

The government has said that there have been no reports of any disruptions post GST implementation. Revenue Secretary Hasmukh Adhia said about two lakh new registrations have been done since the registration reopened last week.

Of these, 39,000 have already been approved. Govt is closely monitoring price and supply of goods, particularly essential and daily-use commodities, to ensure there are no disruptions post GST rollout.

For goods manufactured before GST roll out, a revision in the rate has to be intimated through advertisement in at least two newspapers and thereafter additional stickers over and above the MRP can be used.

Toll, mandi charges and fee on vehicle entry into states are not subsumed in the GST and will continue to be charged by local bodies or state governments. All other levies on entry of goods have been subsumed in the GST, thereby resulting in abolition of entry barriers in 22 states.
(SA - @04/07) 

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