GST Likely to Bring Demonetization Hardships

GST Likely to Bring Demonetization HardshipsIndia braces up for GST from July 1st. Many believe that the country is not ready for the transition yet and Demonetization like hardships awaits people in the early days of introduction. The issue is so serious that even Civil Aviation Department has written to defer it until September 1st.

Industry chamber Assocham also demanded postponing GST implementation, saying that taxpayers will find it difficult to comply with the provisions of the new indirect tax regime as the IT network is not yet ready. Civil Aviation Ministry and Assocham’s requests will mean that there are problems.

But then, the government is adamant about July 1st rollout and has clarified that there is no scope for postponing of the country’s biggest tax reform since Independence. Several commodities are likely to be scarce in July as the dealers and manufacturers are not ready for GST.

For an instance, several pharmacies are sending messages to their customers to buy the necessary medicines in advance since shortage is expected in July. This is the case with all the essential commodities. In all probability, GST is likely to bring Demonetization hardships.

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