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Several warnings from industry officials were ignored by the government in respect of complex taxation reform. GST Network, an Information Technology (IT) backbone required to handle all the activities of Goods and Services Tax (GST) Reform was not ready for the launch, said some of the officials.

After the announcement of errors in input tax credit claims, the government is keeping an eye on the activities of some companies such as Insurance, Technology, Telecom, and Banks.

A month ago, the GST Council had reduced the tax rates nearly on 212 items to provide benefits to customers but the Indian citizens are not getting benefits by the slashing rates of GST.

For the convenience of the taxpayers, the GST Network recently has started the new functionality on the portal which helps to simplify the return filing process under GST.

A senior official mentioned in a statement that the government may permit the use of stickers to show reworked maximum retail price (MRP) on stocked goods of pre-GST for three months until March 31.

In a lieu to aware businesses about wrongful conduct in input tax credit claim, the Finance Ministry requested the businesses to relook at the claims from earlier tax regime

It has been more than five months after GST implementation, but experts are still confused and not able to reevaluate the stir-clear benefits of GST in various sectors.

Ex- RBI Governor, Y. Venugopal (YV) Reddy said that it is impossible for the economist to estimate the growth of GDP in short- term and the country would require two more years to recover the economic conditions after the two major shocks – implementation of GST and demonetization.

According to a survey conducted by the Confederation Indian Industry (CII) reveals several facts regarding the country – Business Confidence Index (BCI) enhanced, growth in the economic conditions of the country in the third quarter of FY 2018.