Centre keeps tabs on prices in GST regime

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New Delhi: The Centre is keeping a hawk eye on prices and supply of goods and is pulling out all stops to ensure that the rollout of the Goods & Services Tax (GST) remains smooth, a top official said on Tuesday.

“We are closely watching the price situation and the supply situation,” revenue secretary Hasmukh Adhia told a news conference as he detailed measures taken by the government to ensure that there are no hurdles on the way for the smooth rollout of the most ambitious indirect tax reform since independence.

“GST has been well accepted. All state governments other than Jammu & Kashmir have complied with all norms. I would urge that if there is any difficulty, please give us feedback, since it is important for us to know. So far, no problems have been detected,” said Adhia. He said the Cabinet secretary will undertake a weekly review of the situation and a monitoring system has been set up in the finance ministry to ensure immediate resolution of problems.

The government is keen to ensure that there is no price spike after the rollout of GST and particularly at a time when inflationary pressures remain benign. It has repeatedly said prices will remain stable after the implementation of the tax reform measure. Adhia said toll, mandi charges and fee on vehicle entry into states are not subsumed in GST and will continue to be charged by local bodies or state governments.

The revenue secretary said a group comprising 175 officers at the level of joint secretary and additional secretary has been formed and each of them will be given charge of four-to-five districts to monitor implementation of the tax reform measure. They will get feedback from various stakeholders and help resolve any problems that may arise.
Adhia said about two lakh new registrations have been done since the registration for GST reopened last week and 39,000 have been approved.

The Centre is also mounting a massive campaign to remove doubts about the new tax regime and will hold a GST masterclass for consumers, traders and chartered accountants. These classes will be held in English and Hindi for three days each, and will cover issues linked to GST such as registration and filing. The classes will be telecast live on Doordarshan as well as on YouTube and Facebook. The presentation will be made by a team of experts led by Adhia.
Source : http://timesofindia.indiatimes.com/business/india-business/centre-keeps-tabs-on-prices-in-gst-regime/articleshow/59448076.cms

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