Hasmukh Adhia, central revenue secretary has hinted towards major constitutional changes in GST in the coming years. At a panel discussion with Doordarshan, Hasmukh Adhia gave an example of advanced countries, which have single or dual rate GST, and stated that India should focus on implementing the same goal in the coming years.
At the discussion, the revenue secretary added that in advanced countries, there is only a single rate of GST, which helps them in better implementation and tracking. Also, in a country like India, where the government has to tackle with all the sections of the society, implementing single rate GST seems tough as of now. However, he appreciated the efforts of the government and added that the government was on the right track. He added that India will look to implement single or dual rate GST in the coming time.
The Indian government has decided to implement a four-slab GST, which includes the rates of 5%, 12%, 18% and 28%. Apart from these rates, the government has exempted some items from the list, other than imposing 3% GST on precious metals and additional levy and cess on luxury items.
About the implementation and deadline of GST, he said that the government is ready with all the required measures to implement GST. While being asked about the demands of industry ti delay the implementation, he added that government has been helping the merchants with implementation. Also, government’s tough stand on the implementation date has made sure that the industry body is readying itself for a proper implementation.
While being asked about the increased efforts after GST, as many do not have tech infrastructure to support it, he added that GST will make things easier for the merchants, as they will be filing a single return, instead of the multiple they had been doing till now. Also, everything will be managed online, which will help the merchants focus on their business better while the system will take care of the remaining formalities.