SME Times News Bureau | 19 Jun, 2017
As the GST Council meets here to finalise issues before the Goods and
Services Tax is implemented from July 1, industry lobby CII said on
Sunday that Indian industry is ready for the rollout of the pan-India
indirect tax regime.
"GST is the most significant indirect tax
reform introduced in the country since Independence," Confederation of
Indian Industry (CII) Director General Chandrajit Banerjee said in a
statement here. The GST will replace the existing myriad central and
state levies on goods and services.
"GST has been finalised after a collaborative and consultative approach and we look forward to its introduction," he added.
agenda of the GST Council meeting here currently underway includes
discussion on postponing the requirement for filing returns under the
GST as the IT infrastructure required for it is not yet ready.
said it is organising over 100 workshops across the country to enable
enterprises to comply with the new regulations. The workshops are
expected to reach out to around 5,000 enterprises. A helpline has been
established where participants can request for clarifications, it said.
An awareness campaign has also been launched to inform industry about the processes related to GST, the statement added.