Govt Monitoring Daily Price Variation Post GST Rollout: CBEC

Posted By: Religare
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    The CBEC has said that the Government is closely monitoring daily price variations in over two dozen essential commodities to check at early stage any abnormal movement in rates post GST rollout.

    Govt Monitoring Daily Price Variation Post GST Rollout: CBEC

    Commenting on the issue, CBEC Chairperson Vanaja Sarna told the media, "Prices have remained by-and-large under check post Goods and Services Tax (GST) implementation on July 1 and there has been no big instance of supply disruption."

    "The roll out of the biggest tax reform since Independence has been "relatively smooth" with multi-layer monitoring and officers of the tax department have been working overtime to weed out major bottlenecks in the implementation," she added.

    GST unified 17 different levies including central excise, service tax and VAT and there were apprehensions of initial hiccups.

    "The Consumer Affairs Ministry is giving us the daily price, the price variations in common commodities. In that there was nothing untoward that has happened. For the past 30 days we get a report every single day," Sarna said.

    Read more about: gst cbec tax reform
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