‘Govt Mon­i­tor­ing Prices Post GST, No Sup­ply Dis­rup­tions Yet’

The Economic Times - - Companies & Economy -

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

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