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Several business segments and industries are worrying about the new Goods and Service Tax (GST) Regime in India, as less than three weeks are left now for implementing GST. Most of the industries are not prepared for the new GST Regime but still, there is a confusion on what taxation rates will be levied on automobile industry either it is 28 percent or 30 percent.

About three weeks left for the implementation of GST Regime in India and still the insurance industry is working effortlessly. The industry will not only require modifying their back-end systems but they will also require registering their offices across all the states in India.

The problem with banking forum is getting worse by each day and each decision which is coming under its way. Earlier it was speculated that banking community will be getting a huge sum of extra load due to the GST and will have to process this financial reform through its own means.

Finally, GST council heard of many sectors which were requesting for some relief from the heavily loaded GST rates levied upon them.

A very significant time period has arrived as the GST is approaching at a fast pace towards the Indian taxation system. In this maintenance, the GST Council finally took a reformative step towards the redressal of various industry bodies by setting up a total 18 sectoral groups aimed to listen and resolve any particular issue stuck towards the GST roll out.

The Central government is forcing to implement Goods and Service Tax (GST) from 1st July but there is always something which stops its way. Under the new GST Regime, GSTN is one of the IT platforms which helps to perform any kind of GST activities which was developed by the mutual concern of Government and Private IT company. State Government, as well as several stakeholders, was disappointed with the readiness of IT platform as it seems that it is still under working phase.