28.11.2023: GST regime is moving from uncertainty to certainty: FM

The Goods and Services Tax (GST) regime is moving from uncertainty toward certainty on some issues, Finance Minister Nirmala Sitharaman said on Monday, seeking to assuage global firms’ concerns about ‘tax certainty’ amid a spate of tax demand notices and investigations pursued by revenue authorities.

“The Constitutional body of the GST Council has actually brought about a great deal of comfort in having a ‘One Nation, One Tax’ principle effectively brought to the ground. Of course it has had teething problems,” she said.

“Some issues from prior to 2017, when GST came into place, are still lingering. Some are with the courts, some are not, and they are getting ironed out,” the FM said, adding, “And in the process, because tax authorities are conscious that they do not want to miss out on the due allotted time, notices do go out.” She further said, “And if there are replies given, they are taken on board. So we are still at a stage where we are on some grounds, moving from uncertainty to certainty, but the uncertainty appears before you because you’ll see the GST already on the ground but some aspects are getting sorted out now.”

Source: The Hindu

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