With GST rollout just round the corner, the industry might be worried about its implementation and impact. To answer questions of the industry, the revenue department has launched a Twitter handle.
Now traders and people from the industry can ask questions about GST on the Twitter handle and get answers from the officials from Central Board of Excise and Customs (CBEC).
A statement from finance ministry says that taxpayers and other stakeholder can ask questions related to GST on the twitter handle ‘@askGST_GoI’ and get appropriate resolution and clarifications.
Earlier this month GST council headed by union finance minister decided on fitment of various commodities and services in different tax slabs. The commodities and services have been classified into for slabs – 5, 12, 18 and 28 per cent.
You can find more information on topics like e filing, income tax, refund status, calculator, etc. on our blog.
Further, the council will decide on fitment of remaining six goods that include gold and precious metals, textiles, bidis and branded commodities at a meeting scheduled for June 3, 2017.
However the Confederation of All India Traders (CAIT) in a statement has expressed concern over proposed tax slabs saying the GST tax regime has created an atmosphere of anxiety among the traders throughout the country.
A CAIT release says that various verticals of retail trade are asking for lower tax on the things they deal in as they have been put into higher tax slabs as compared to current slab under VAT.
The GST will unify 16 different taxes and will facilitate seamless movement of goods and services. The GST is all set to roll out from July 1, 2017.
In the meanwhile, a report from the World Bank has stated that the GST rollout will boost India’s economic growth.
The launch of twitter handle for GST is expected to be of great help for the industry and traders.