GST, which got rolled out from July 1 will be reviewed by the all-powerful GST council on August 5. Central Board of Excise and Customs Chairperson, Vanaja N Sarna confirmed the news and said “The review meeting of the GST Council would be on the first Saturday of August”.
The council will take stock of the implementation of the biggest tax reform since independence and also review tax rate with regard to any commodity highlighted by members in the meeting. Before GST implementation, the council has taken many steps to spread awareness about the new taxation system.
Vanaja praised the initiative of GST and said “It is good and simple tax and it is good from all aspects. So, many taxes, 17 taxes going into one is definitely going to get simple”.
Minister of State for Finance Santosh Gangwar said it is a big economic reform for the country. He also added that “This is a historic moment. Consumer will benefit under the GST regime. Depending on the need, we will review the taxes”.