The Goods and Services Tax (GST) regime launched from July 1 has not disrupted businesses in a big way, but doubts linger in the minds of stakeholders, ranging from traders and manufacturers to consumers and tax authorities.
To allay concerns and dispel misgivings, the government has decided to conduct classes starting from Thursday.
Meanwhile, Jammu and Kashmir became the last state to pass the enabling laws for implementing the GST. Finance Minister Arun Jaitley said that the state will benefit a lot since it is largely a consuming one.
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Stock markets have largely cheered the implementation of the GST, apparently factoring in the benefits, though there is a broad consensus that there will be disruption in the short term.
The BSE Sensex has gained about 425 points since the law came into effect from this month, indicating that fears of negative investor sentiments were largely misplaced.
Here is a quick update based on the official Twitter handle for GST — @askGST_GoI:
FAQs relating to GST Migration/Registration #GSTSimplified #GSTFAQs #GoodAndSimpleTax #getGSTready pic.twitter.com/eTVfDnjZHe
— GST@GoI (@askGST_GoI) July 2, 2017
All officers of CBEC and State Governments, Tax Practitioners & Traders etc. are requested to watch this class #AskAdhia #GSTkiMasterClass pic.twitter.com/UquatUEQlO
— GST@GoI (@askGST_GoI) July 6, 2017
Thanx 2 GST average speed of freight transportation will increase fm 20 km to 40 km an hour & trucks will b doing fm 200 km to 400 km a day. https://t.co/fVNLW3yxTJ
— Amitabh Kant (@amitabhk87) July 5, 2017
The consumers in J&K will benefit from #GST . No tax payment twice over.
— Arun Jaitley (@arunjaitley) July 5, 2017
For the whole State there is one Registration only. For all SEZs a separate registration will be required. https://t.co/57ZZUXUgxP
— GST@GoI (@askGST_GoI) July 5, 2017
Masterclasses on #GST by Revenue Secretary @adhia03.
— PIB India (@PIB_India) July 5, 2017
Tweet your Qs using the hashtag #AskAdhia pic.twitter.com/29aUOUZpIg
Clarification issued regarding "Registered Brand Name" in case of supply of certain goods of daily use. pic.twitter.com/8aX7tB4MgY
— CBEC (@CBEC_India) July 5, 2017
Congratulations to the #GST Quiz winners for 4th July 2017. Challenge yourself at https://t.co/zXLJUTskSU pic.twitter.com/rSN5wVZ0is
— MyGovIndia (@mygovindia) July 5, 2017
#GST : Ushering in a NEW ERA of co-operative federalism #TeamIndia4GST pic.twitter.com/m7fvhykTYI
— ALL INDIA RADIO (@AkashvaniAIR) July 5, 2017