Govt sets 10 groups to examine sectoral GST issues by April 10

The whole country is waiting for the rollout of GST, the biggest tax reform to be implemented in India ever since independence.

However, since the reform is on such a big level, it’s obvious that there would be some doubts and unanswered questions about GST that industries such as e-commerce, banking and insurance, logistics and others will have.

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The government has decided to address these issues, and for this purpose, has set up 10 groups, so that sectoral issues faced by trade and industry can be attended to. This would ensure a smooth transition to the new regime, which is all set to be implemented from July 1st onwards.

All these groups have been set up under senior tax officials, and would examine the concerns of industry and report to the government by April 10, leaving the Central Board of Excise and Customs (CBEC) with about three months to sort out all grievances.

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The sectors that would have their issues up for review include banking, finance and insurance, telecom, exports, IT/ITeS (information technology-enabled services), transport and logistics, textiles, MSMEs (micro, small and medium enterprises), oil and gas, gems and jewellery, and services received and provided by the government, says ET.

(Image source: Washington Post)