Giving a sense of respite to the worried lot of traders after the GST rollout on July 1, 2017, the revenue authorities have said that they will go slow in undertaking enforcement actions under GST for the first six months, as they want industry to settle down into the new indirect tax regime.
Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna stated that “she has specifically said that the first three to six months are a go-slow.... I don't want small cases to be made”. She further said CBEC has been hand-holding traders and businesses to make Goods and Services Tax (GST) a success and added that there will be genuine errors due to lack of understanding in the initial days.
CBEC had constituted 18 sectoral groups to look into various issues faced by different sections of industry. Of these, three groups have submitted their report. The CBEC Chairperson said that the law committee is examining the reports and also said that they won’t dismantle these working groups and they would assist the industry in the problems they face in the GST regime. Meanwhile, CBEC has also reiterated that the goods and services tax (GST) rates will not be revised unless there is an anomaly or the rates are unjustified.