In a new regime:

In a new regime:

Context

• Sections of the Opposition are critical of the GST and have boycotted the Joint Session of Parliament that formally began the GST regime
• Efficient Implementation of GST will require coming together of all stakeholders

Government’s Assurance

• The government has assured that procedural lapses in the first two months of the new tax regime will not result in penalties.
• However, Confederation of All India Traders has appealed to the government to treat the first nine months of the new tax regime as an interim period during which non-compliance will not result in penalties.

Way ahead

• The Government must treat Confederation of All India Traders’ appeal with generosity.
• The coming months will be a learning experience for all the stakeholders: the government, the opposition and different sectors of the economy.
• Efficient implementation of GST will require coming together of all the stakeholders.