After the spending, three days of Goods and Services (GST) Regime in India Cabinet Secretary PK Sinha on Monday conducted a review meeting to evaluate the stock after the implementation of new indirect taxation regime. The Cabinet Secretary has asked from all ministers and departments to give their views about the new regime.
On Monday Union Finance Ministry said that ““Government has asked all the departments to ensure that there is no shortage of products and consumer items in order to keep a check on prices. Special emphasis was laid on to keep prices of essential commodities under check”.
Sinha emphasised that benefits would be provided to consumers, which can lead to keeping inflation under control. He further added that “”Various machines used by dealers, retailers for computerised billing should be calibrated at the earliest as per the new GST rates“.” The new taxation structure system has been implemented from 1st July and four-tier slab rate 5%, 12%, 18% and 28% decided by the GST Council.
Sinha also communicated to ministers and departments be ready to handle the problems or queries of stakeholders. He also said, “”In order to do so, officers of every ministry should equip themselves and have full knowledge of the details relating to GST concerning their respective Ministry. The similar review meeting will be administered every week to see the progress report on the GST implementation”.
Sinha has communicated to all the departments and ministries to furnish all the information related to the new indirect tax regime concerning their ministry/department, which includes GST rates of the respective websites.
According to the statement, the officials should be ready to deal the issues or problems related to the new regime, so there is the quick response to any situation. Sinha has communicated to all ministers and departments to organise campaigns and programs so that the consumers and stakeholders will be able to know about the new taxation regime.
The Revenue Secretary Hasmukh Adhia as well as secretaries of various departments including railways, rural development, consumer affairs, textile, food processing, fertiliser, financial services, MSME and pharma, about 20 secretaries have attended the meeting. The Central Board of Excise and Customs (CBEC) officers were also present in the meeting.
Read Also: GST Reality Checkup: What is the Actual Scenario in Indian Markets?
On 20th June Sinha has organised the meeting with 30 ministers and departments for the GST readiness and also communicated to secretaries to conduct outreach meetings, training sessions and publicity campaigns to aware stakeholders or people about the new rules, regulations, and provisions of Goods and Services Tax (GST) Regime.
The Union Finance Minister Arun Jaitley yesterday said that GST has passed two days ago “”without any major problems being reported” from the field offices. “The Revenue Department has got encouraging reports from the roadside Dhaba and big restaurants as well as from Kirana shops to departmental stores which, in turn, have started getting assimilated to the new tax system,” it had said.
The biggest taxation reform Goods and Services Tax (GST) since Independence, eliminates 17 several complex taxes and converts India into a common unified market for the smooth transition of goods and services.