GST impact on prices, supply: GST impact on prices, supply: Revenue Secretary Hashmukh Adhia in a press conference today said that the price situation and supply situation is being closely monitored. The comments came three days after the historic launch of Good and Service Tax (GST) on July 01 by President Pranab Mukherjee and Prome Minister Narendra Modi. During the interview, Adhia talked about the implementation of the new tax regime. He said,” implementation of GST has been smooth so far. Central Monitoring panel for GST will meet every Tuesday. Mentioning the role of manufacturers in GST, Revenue Secretary said,”Manufacturers have to give an advertisement in the newspaper about a change of price & revised price to be displayed alongside old price.” Adhia said that about 2 lakh new registrations done on the GST Network, 39,000 already approved. Talking on vehicle entry and toll the Revenue Secretary said,”Toll, mandi charges, fee on vehicle entry into states to continue but there will be no levy of any entry tax on goods movement.”
In a report by Indian Express Hasmukh Adhia on Sunday cleared the fears of the consumers over the complexities of the new tax regime. Adhia also cleared the myths about GST on his Twitter handle and said the process around the implementation of GST and its execution will be transparent.
Meanwhile, in Jammu and Kashmir, which is in the process of clearing the new tax regime, MLA Rasheed Engineer created a ruckus today in the state assembly. The incident took place during the discussion over approval for GST. The Speaker had adjourned the meeting as the situation had gone out of hand. This happened a day after Union Minister Jitendra Singh had expressed confidence that the new tax regime will be implemented in Jammu and Kashmir in the next three to four days.
Earlier on Monday, Mehbooba Mufti- led government was warned by the Opposition National Conference of “severe consequences” if GST in its present state is implemented in the Jammu and Kashmir.
Senior NC leader Abdul Rahim Rather said,”“Our position is that till we get the constitutional, administrative and economic safeguards, NC will not accept the GST…They (government) should not do it (implement GST in its present form). But if they still do it, they will have to face the consequences.”