ForumIAS LATEST
- 03 July | Enrich Your Ethics Answers with GS Knowledge: IAS Rank 1 Shruti Sharma | Click Here to Watch →
- 04 July | The Reality of Writing UPSC Mains by Ayush Sinha | Click Here to Watch →
- 05 July | The Right Time to Start UPSC Answer Writing by IAS Rank 39 Rohin Kumar | Click Here to Watch →
- 06 July | Why You Should Prepare for Mains Before Prelims by IAS Rank 28 Prachi Honey | Click Here to Watch →
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.
