Monday, 23 January 2017

GDP may slow down if GST implemented in hurry: Tax officials

For Equity and Commodity Market Trading view as

The major central revenue body has asked Finance Minister Arun Jaitley not to implement Goods and Services Tax (GST) in a hurry. The body also threatened to take legal recourse in case their concerns are not addressed. Moreover, it termed as illegal certain decisions taken by the FM Jaitley-headed GST Council and demanded that they be corrected. It also sought that the officer's body be consulted before any final decision is taken. 

In a letter to Jaitley, the All India Association of Group B Central Excise Gazetted Executive Officers, said the decision to transfer 90 per cent of service tax assessees to states is not supported by any lawful and logical base and therefore, the decisions taken by GST Council should be withdrawn immediately.

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