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19 July 2017
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GST (The Total Investment & Insurance Solutions)
The rollout
of the Goods and Services Tax (GST) has not been glitch-free and has thrown up
issues on various fronts, including entertainment tax, textile and MSME
sectors, CBEC Chairperson Vanaja Sarna said on Wednesday. The Total Investment & Insurance
Solutions
Sarna added
that the issues will, however, get ironed out over time.
"The
last 18 days of GST have thrown up problems, it has not been glitch-free. We
have had issues from textile, entertainment tax and micro small and medium
enterprises (MSMEs)," the Central Board of Excise and Customs (CBEC)
Chairperson said here.
She was
speaking at an interactive session on 'Transition to GST Implementation'
organised by the Confederation of Indian Industry (CII). The Total Investment & Insurance Solutions
However, she
said that no "earth-shaking" hurdles have arisen and the issues that
have cropped up "will get ironed out over time". The Total Investment & Insurance
Solutions
"But in
15-18 days, nothing has led us to believe that it is not a good tax or has not
been implemented in the right way," she said. The Total Investment & Insurance Solutions
The
entertainment tax issue cropped up when Tamil Nadu imposed an additional 30 per
cent levy over and above GST, which led the theatres in the state go on a
strike.
The strife
ended after the state assured that apart from GST there will be no other
entertainment tax and kept its 30 per cent levy in abeyance. The Total Investment & Insurance
Solutions
MSMEs groups
are complaining that earlier the threshold exemption for them from central
excise duty was Rs 1.5 crore. The MSMEs are also lamenting that their systems
are still not ready for GST.
The textile
traders opposing 5 per cent GST had also gone on strike demanding a rollback.
The CBEC
chief said the industry was bound to have some issues with rates but that can
be discussed and this was an ongoing process. "July 1 doesn't close
anything."
The entire
exercise of fitment of commodities and services was carried out in a
transparent manner by the GST Council and revisions and discussions was an
ongoing process, she said.
"There
will be issues. Over 50 years, it will be naive to say that the GST law will be
accepted as it is," she added. The
Total Investment & Insurance Solutions
However, the
CBEC chief assured that for the next 3-6 months, the tax administration will go
slow and overlook the genuine errors. The
Total Investment & Insurance Solutions
"I
don't want cases to be made. I am not looking at an hardline attitude. This
time is for hand-holding and trade facilitation." The Total Investment & Insurance Solutions
She added
that the comfort zone for traders will come after three months after the first
returns were filed and input tax credits were availed. The Total Investment & Insurance Solutions
Sarna said
the government was closely monitoring GST rollout since July 1.
"There
is close monitoring on price changes, price rise, shortage of goods, change in
maximum retail price, everything is being monitored by Cabinet Secretary every
week."
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