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Tuesday, 13 June 2017

GST: No concession, new tax will be applicable from July 1

Talking about traders not giving any concession in the implementation of GST, the central government on Tuesday clarified that the Goods and Services Tax will be applicable only from July 1 and its preparedness is going on loudly. Apart from this, the government appealed to dismiss the rumors, which are being said that the new tax system can be avoided for a few more days. Let me tell you that a section of the industry was demanding to avoid GST for a few days. West Bengal's finance minister Amit Mitra also offered to stop GST for a few days. On Tuesday, the Finance Ministry issued a statement saying that the Government of India clarifies that GST will be implemented from July 1, 2017. Together with state governments, the Central Board of Excise and Customs has increased its efforts to reach every trader. Revenue Secretary Hasmukh Adhia tweeted that rumors of delay in implementing GST were totally wrong. Please, do not get confused with these rumors. The Finance Ministry said that preparations are in full swing to implement this historic system since July 1.

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