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No revision of GST: CBEC
GST rates will not be revised unless there is an anomaly or the rates are unjustified, said CBEC Chairperson Vanaja Sarna, while assuring that revenue authorities will go slow in undertaking enforcement actions under GST for the first six months as they want industry to settle down into the new indirect tax regime.
New Delhi : GST rates will not be revised unless there is an anomaly or the rates are unjustified, said CBEC Chairperson Vanaja Sarna, while assuring that revenue authorities will go slow in undertaking enforcement actions under GST for the first six months as they want industry to settle down into the new indirect tax regime.
Taxmen to go slow on GST enforcement for 6 months
CBEC chief’s comments came in the wake of textile traders’ demand of lowering five per cent GST on textiles. “It is an issue that has snowballed, but it is not something which cannot be settled. The issue is that textile sector is taxed for the first time. So, anybody who comes into the net would feel the pinch,” Sarna said at a CII event here on Wednesday.
“CBEC has enforcement authorities and I have specifically said that the first three to six months are a go-slow. I don’t want small cases to be made. With the kind of input tax credit (ITC) being offered, assessee base will widen. I’m definitely not looking at any hard line attitude to start with, we would want it to settle down,” said Sarma.
