Reportedly, the GST Council at its meeting in August is likely to take up certain taxation issues raised by sectoral bodies along with a review of the implementation of the new tax regime.
Smt. Vanaja Sarna, present Chairperson of the Central Board of Excise and Customs (CBEC) also said the department is keeping track of revenue trends post implementation of the GST, but actual positions will be known after returns are filed in September.
The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, will meet on August 5 to review implementation of the new tax regime.
“Different issues will be coming to the table (at the next Council meeting). Things that have been brought to our notice may be on the rules and the implementation. Maybe, even on rates,” Sarna said.
Certain textile traders have been protesting against 5 per cent GST rate on fabric. They want the tax rate to be zero. Surat-based traders who have been protesting, however, withdrew the strike earlier this week.
“Whatever issues have been raised… will be taken up (by the Council). When you roll out something as mammoth as GST, I would say you will always find problems or issues probably coming in till six months or a year,” She said.
