Most of those responding to a survey believe that prices remained as it is under the GST regime compared to the previous regime. However, those who believed that prices have come down were less than those who think that prices have risen under the GST regime.
As many as 43 per cent of those surveyed by consultancy KPMG thinks that prices remain neutral under the GST regime, while 33% say prices have increased. Only 24% believe that prices have come down.
As expected, overwhelming 87% says GST has increased compliance burden, while 13 per cent thinks otherwise. KPMG surveyed 232 CEOs, co-founders, CTOs of companies.
As many as 53 per cent of respondents to a survey is not clear about anti-profiteering provisions. Only 33% of those surveyed were clear about the provisions.
Seventy per cent says the government should have implemented anti-profiteering provisions with complete computation guidelines being made available to the Industry even before implementation of GST, 36% say the provisions should have been restricted to select sectors where B2C supplies are involved.
Ten per cent respondents to the survey say anti-profiteering provisions should not have been implemented at all.
The anti-profiteering mechanism under GST is a three-stage process. There is a state-level screening committee for local complaints and a standing committee for national-level complaints; then, an investigation by the Directorate General of Safeguards, and then a probe by the decision-making body, the National Anti-Profiteering Authority.
The anti-profiteering authority has so far got 169 complaints alleging that suppliers of goods or services have not passed on GST benefits to customers. The Director General of Safeguards, the investigative arm of the Department of Revenue, has sent notices to some companies.
There was almost a tie on respondents' satisfaction about various deadlines given under the GST regime While 51% respondents say they are satisfied, the remaining 49% of those surveyed were not satisfied.
There was almost a unanimity among respondents that GST Network portal be made more effective. As many as 95% says it can be, while 5 per cent was of the opinion that the portal cannot be made more effective.
Overwhelming 71 per cent of those surveyed says that error report should be generated instantly while filing returns and it should be easier to understand. As many as 64% says response time of the portal should be improved while downtime should be reduced.
On transitional credit, 45 per cent respondents say they are not clear about eligibility to carry forward stocks lying at various points of time.
One of the aggrieved constituencies of GST is the exporting community. As many as 45 % of those covered says GST does not provide incentives to exporters, while 33 per cent disagree. As many as 74% finds the biggest problem faced by exporters under the GST regime is blockage of credit and working capital.