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Most of the fears which preceded the roll-out of Goods and Services Tax (GST) from July 1, have been proved unfounded, an official said here on Tuesday.
"Initially, there were lots of questions, doubts, apprehensions even inhibitions about GST. There were even fears of price escalations.
"But in reality, nothing of that sort has happened. We are happy that a few sectors have seen reduction of prices in the past few days. That's a very good beginning for GST which is just 10 days old," said GST and Central Excise's Chief Commissioner, Eastern region, S.K. Panda.
Addressing industry members at a session titled "10 Days of GST Roll-Out: Experience Sharing" organised by CII Eastern Region, he said officers are visiting market places to make sure there are no procedural lapses or problems of businesses.
Panda also said that the documents submitted by 40 per cent of assesses are incomplete and as a result, the registration process is facing some difficulty.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)