I: India will adopt its most comprehensive indirect tax reform—the goods and services tax (GST)—on July 1. As the deadline draws closer, there is a mad rush to get ready for a revamp which most find too complex and tedious.
From the government to small businesses, all stakeholders are anxious for a smooth rollout of the GST. We list below the preparations going on at various levels for the July 1 deadline: The government The GST Council is not done with its business yet.
It has yet to finalise several remaining issues that include taxation of lotteries and controversial e-way bills, which relate to transport of goods across state lines and might be delayed.
A committee of officials is also finalising the mechanism for the anti-profiteering law, though it is not necessarily linked to the rollout. All the ministries and departments are setting up GST facilitation cells to help resolve sectoral concerns of the industry. The cells will be in constant touch with major industry and business associations relating to the respective ministry/department and provide all possible support.
Micro, small and medium enterprises (MSME) will now be able file GST-related grievances online, with the government putting in place a monitoring mechanism. The units can put forth their suggestions, complaints and seek guidance or information pertaining to the new indirect tax regime using the Internet Grievance Monitoring Mechanism established by the MSME Ministry.
The Union government has also started a new Twitter handle—@askGST_GoI—to answer industry queries related to the GST. The Revenue Department plans to promote 116 IRS officers to the commissioner grade to ensure sufficient logistics