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India Forging Ahead With GST From July 1

by Mary Swire,, Hong Kong

02 June 2017

Speaking on May 30, India's Revenue Secretary confirmed once more that the long-anticipated goods and services tax (GST) will be introduced as planned on July 1.

Hasmukh Adhia told a meeting with GST stakeholders that the introduction of GST will encourage job creation for the younger generation and boost economic growth.

The Revenue Secretary sought to allay concerns expressed by those present at the meeting, including those from tax officials, traders, and representatives from trade unions, regarding the government's preparations for a seamless transition from the current system to the GST.

Earlier in May, Adhia disclosed that the Goods and Services Tax Network (GSTN), the central platform for the administration of GST, is ready for use. The Government said in mid May that, of 62,937 tax officials, 24,668 tax officials have been given hands-on training concerning GST registration, payment, and return filing, and the remainder would be trained by June 15, 2017. As of April 30, 2017, when phase one of enrollment was closed, six million taxpayers out of 8.4 million had enrolled, the Government said at the time.

GST will replace the centrally levied CENVAT, the central excise duty, service tax, customs duties, and any related surcharges. GST will also replace the state-level levies VAT, sales taxes, entertainment and gambling taxes, the luxury tax, certain entry taxes, and related state surcharges.

TAGS: tax | sales tax | India | gambling tax | training | goods and services tax (GST) | luxury tax | excise duty | gambling | trade | services | Tax

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