Core sectors fear impact

Core sectors fear impact

 The Telugu-speaking states of Andhra Pradesh and Telangana have finally braced themselves for the July 1 rollout of GST, despite fears over its negative impact on state specific key segments such as irrigation, textiles, granite, beedi, tobacco and cashew kernels.

While integration of the treasury network with GST network, commercial taxes and RBI has been completed, there is still an air of uncertainty over the implementation of the new taxation system in the minds of the general public.

Assuring the traders and service providers of a smooth transition B Sunil Kumar Jain, Commissioner Central Excise, Customs and Sales Tax, Telangana state, has said that every effort has been made by the department to make sure that all inconveniences are minimised.

“The department has been reorganised in terms of cadre management, infrastructure, IT upgradation, skill development, training and outreach. So no trader should be worried about what will happen on July 1,” he said.

“The process of registration, filing returns, payment is much simpler than projected,” said J Lakshmi Narayana, Joint Commissioner Commercial Tax (Policy), who had attended all 17 GST Council meetings. He said that approximately 3 billion invoices will be matched every month under GST, increasing the tax base.

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