‘Govt Monitoring Prices Post GST, No Supply Disruptions Yet’
New Delhi: The government is closely monitoring daily price variations in over two dozen essential commodities — from wheat to tea — to check at early stage any abnormal movement in rates post GST rollout, CBEC chairperson Vanaja Sarna said.
Prices have remained by-and-large under check post Goods and Services Tax (GST) implementation on July 1 and there has been no big instance of supply disruption, the chairperson of the indirect tax body told PTI. The roll out of the biggest tax reform since Independence has been “relatively smooth” with multi-layer monitoring and officers of the tax department have been working overtime to weed out major bottlenecks in the implementation, she said.
GST unified 17 different levies including central excise, service tax and value-added tax (VAT) and there were apprehensions of initial hiccups.
GST unified 17 different levies and there were possibilities of initial hiccups