Government officials have specially alerted to thwart any attempt of cartelization or disruption in the new tax regime
The government has created a 'war room' to monitor GST (Goods and Service Tax) implementation process, a new indirect tax system which will roll out on Saturday. In North Block, the office building of Finance ministry has allotted a space named as 'GST Feedback and Action Room'.
GST is crucial, and the government wants smooth rollout on Saturday. War room will monitor and take immediate action on a complaint. Government officials have specially alerted to thwart any attempt of cartelization or disruption in the new tax regime.
Equipped with multiple phone lines and computer systems and manned by tech-savvy youngsters, a "mini war room" has been set up in the Finance Ministry to deal with crises related to the implementation of GST or goods and services tax.
Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna said that "The finance ministry has set up a GST feedback and action room specifically for government officials to approach it with any urgent queries related to problems of GST in any area".
War room is also ready for prompt action from tax evasion to technical confusion on rates to transportation related issues. War room responsibility is more crucial as the anti-profiteering body is still in the process of being.
Under GST law, the producer must have to pass the added benefit of tax reduction. Businesses and their consultants have opposed it and said that it's against the free market concept.
GST law said, "Any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices".
Revenue secretary Dr Hasmukh Adhia had said that "We expect companies to cooperate. We hope we don't have to use the weapon."
Other country experiences suggest that GST led inflationary pressures in an economy because producers have refused to pass added profit to consumers.
One of the major objectives of GST is to make the tax incidence on consumers less by reducing compliance costs, removing cascading of taxes, increasing the tax base, reducing logistics costs and reducing the effective rates of taxes from the present level.
Sumit Dutt Majumdar Former Chairman of CBEC said to dna that "The government wants these benefits to reach the consumers through these Anti- Profiteering Rules. On the other hand, its rampant application will create chaos and serious disruptions in business".
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