The new tax reform is nothing short of entering a complex maze.
AFTER A DECADE of political negotiation, the goods and services tax (GST) is ready for implementation from 1 July. Touted as the single-biggest reform by the Modi government, the industry has lauded the move. Still, some challenges remain for the smooth transition of the new reform.
“All the rules are yet to be notified. Only after the rules are finalized can the IT systems from GSTN be ready,” says Tejas Goenka, Executive Director at Tally Solutions. “The GST Suvidha Providers would be ready only after that.” Dismissing the claim, GSTN (GST Network) says that the system is foolproof and is prepared for the rollout.
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