Finding solution to GST conundrum

The DRI is issuing summons and issuing show-cause notices proposing confiscation and penalties to even parties who have paid up the IGST with interest

In a recent meet at Pune, the Finance Minister asked the participants not to damn the goods and services tax (GST) as it is the law passed by the Parliament and the State legislatures. She was responding to a professional cost accountant who said, “As of today, everybody is cursing the government — industry is cursing, consultants are cursing, auditors are cursing...”. 

A day earlier, the GST Council had constituted a committee of officers to consider wide range of reforms so that a comprehensive list of suggestions may emerge. The committee will consider looking into areas such as systemic changes in