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Watch: Hasmukh Adhia is answering all your GST queries on FB right now

The issue of GST being taken up by Revenue Secretary, ministry of finance, Hasmukh Adhia

BS Web Team  |  New Delhi 

Hasmukh Adhia
Revenue Secretary Hasmukh Adhia

India is ready to roll out its biggest tax reform possibly from July 2017. Faced with multiple implementation challenges as Modi government races to roll out the (GST) from July 1, a number of States as well as businesses want the new levy to be introduced from September 1.

The issue is being taken up by Revenue Secretary, ministry of finance, through a Q&A session via Live. 



Earlier had said will not lead to inflation and rather make domestic goods competitive via-a-vis imported items. 
He dismissed fears that implementation will lead to a spurt in prices, saying that unlike in other countries, the transition to the new tax regime would be smooth in India. 

He said several countries witnessed inflation following rollout as they had single point taxation system. In the case of India, there are multiple points of taxation and hence the possibility of sudden spurt in inflation is remote. 

"Presently, we are tapping VAT at each stage of supply chain, from manufacturer to wholesaler to retailer. We already have multiple points taxation. Under GST, we are just merging the taxes of the Centre and states. The inflation which happened in other countries was because they shifted from single point taxation to GST," Adhia said.

 

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