Monday, May 11, 2015

On GST - latest, for an insight !

Finance Minister Arun Jaitley along with Finance Secretary Rajiv Mehrishi addressing a press conference at North Block on Thursday. PTI
Our Bureau
Finance Minister Arun Jaitley is optimistic that Goods & Services Tax (GST) will not miss...

GST rollout: there are gaps to be filled, say logistics players ...

Spontaneous (to share with like-minded):

Given the provocation perforce instantly  drives anyone wakeful and conscious enough crazy, to let loose his faculty to think or imagine, and start making a wild guess about the rollout and transitional problems alerted about by ‘experts’ and non- experts alike. On a reading and understanding line by line, the impression given is that ostensibly there is bound to be met with a cavernous gap between the rules book and its implementation or enforcement; and most probably might persist and continue for long. Looking at the enormity of the impediments foresighted and cautioned about, the problems as visualised could be mitigated at least to some extent; provided, of course, the men in power and the concerned authorities spare no efforts and pains to intelligently chart out, and sincerely devise effective and efficacious ways and means even now, and be in readiness. Ideally, ought to do so the soonest, in order to meet and squarely deal with and tackle the otherwise inevitable fallout problems galore; instead of waiting for the dreaded crisis situation to come to fruition, head on, as has historically been the experience with regard to any such legislation impacting the very nation’s economy as a whole.

The known conventionally followed legislative provision, styled as "repeals and savings",    if framed in somewhat a comprehensive manner, for meeting transitional problems as envisaged, after clearly identifying the specific areas potent with them, may help in easing resolution on a timely basis.

Calling to worrisome Focus:

Grave doubts which instantly arise are centred on observations, which speak of
‘early adopters’ and ‘joining the rollout’ at a later point in time.
The further observations, selectively, are these: -
“..There can be other challenges in the transition to GST, which could take about two-three years, before the lower costs trickle down to customers.”

“As we wait for clarity about the time frame and exact nature of GST, companies might face issues in the short run, when they transition their IT and ERP (enterprise resource planning) systems as per the new format,” said Agarwal.  For those looking at improving the ease of doing business, there is struggle in the current form of GST, he added.”

The comment is intended to inspire more useful thoughts on the lines indicated in the minds of those, even if those be  limited few, having a national outlook ; not to elicit any useless repartee or rejoinder from anyone having no clue whatsoever or by nature inclined to choose to be tuned to a different wavelength or decided to go off at a tangent, with no iota of  concern for the common good.

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