Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
Union minister M Venkaiah Naidu on Friday said there would be some "initial hiccups" in rolling out the Goods and Services Tax (GST), but those can be addressed.
"GST is going to bring great relief to people. I appeal to those working in the real estate to pass on to buyers the message of benefits of this tax," Naidu said after launching the new DDA housing scheme at the Nirman Bhawan here.
"In bringing out any reforms, there will be initial hiccups, but those can be addressed. The GST on one side and the RERA (Real Estate Regulation and Development) Act) on the other, will bring great relief and are a great combination. It will bring transformation and reform in the sector," the minister said.
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Naidu also said issues and concerns of various states have been "identified and addressed".
"I can assure people that any problem can be addressed through the GST council," he said.
On the timing of the rollout — the stroke of midnight — he said the NDA dispensation is a "24×7 government".
"It is a government functioning 24×7, day and night on bringing reforms."
He said the launch event is not just a function, but a "pious programme".
"It has taken 17 years and three regimes, of (Atal Bihari) Vajpayee ji, Manmohan Singh ji and now of Narendra Modi bhai. It is not a BJP or the NDA thing, all parties are involved," Naidu said.
He said there was no need for any concern, and going by collective wisdom of all the states, we are moving towards "one nation, one tax".
The nationwide Goods and Services Tax (GST) will be rolled out from midnight tonight, overhauling India's convoluted indirect taxation system and unifying the USD 2 trillion economy with 1.3 billion people into a single market.
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