The GST Council as scheduled is going to hold a meeting on August 5, to discuss the taxation issues which were raised by the sectoral bodies. In this meeting, the council will also review the implementation of the new tax regime. It is expected that the GST Council will possibly review the concern raised by the textile sector.
Central Board of Excise and Customs (CBEC) Chairperson, Vanaja Sarna said, the department is keeping track of revenue trends post the GST rollout from July 1, but actual positions will be known after returns are filed in September. She added, “Whatever issues have been raised… will be taken up (by the Council). When you roll out something as mammoth as GST, I would say you will always find problems or issues probably coming in till six months or a year”.
The goods and services tax (GST), rolled out from July 1, is a uniform tax structure that replaces 17 different levies, including excise, service tax, and VAT.