SME Times News Bureau | 06 Jul, 2018
Goods and Services Tax (GST), Indiaâs biggest reform in indirect
taxes still remains a work in progress even one full year after its
implementation as there are certain glitches in the network that need
to be resolved, a top Telangana Government official said at an
ASSOCHAM event held recently.
see that second year will bring a lot of stabilisation to the GST,"
said Somesh Kumar, principal secretary (commercial taxes &
excise), Government of Telangana while inaugurating an ASSOCHAM
National Conclave on GST.
of the highlight of the GST was that there will be invoice matching
which will be possible, unfortunately the GST Network (GSTN) has not
been able to provide this facility," he said.
we want to do lot of data analytics in Telangana but we do not get
the full data, as we would like from the GSTN," added Kumar
while presenting a report card on first year of GST.
he hailed the GST Council for showing lot of maturity with rapid
response on emerging needs, Mr Kumar said, "On GST Network I have
my reservations, they could have done much better. Today, if there is
any criticism of GST it is not on GST per se, it is on the network,
its inability to respond and various problems that we face."
also pointed out that TDS which is supposed to be put on all
government works and similarly TCS which is to go for the e-commerce
have not started. "All these items actually impact the
Kumar also asked the industry to come up with its suggestions on
resolving the various challenges that need to be resolved.
the promises made under the GST and itâs benefits to the
businesses, he said that while it has been very positive on the
organised sector but the unorganised sector is still reeling under
the impact of GST.
that there has been an increase in compliance burden especially for
small businesses, Mr Kumar said, "SMEs were promised that they will
not be affected but on the whole this sector needs more support."
he said that there is a need to have rationalization of rates of
tax/slabs, besides processing of refunds has not become seamless and
particularly exporters are suffering.
also said that all the departments central and excise have to change
their mind-set and become attune to the needs of GST.
Further, Kumar said though reverse charge mechanism is still not
operational and has been put on hold till September 2018 but it will
make things more transparent and provide a level playing field for