“Anticipate some dip in GST assortment for preliminary months, as taxes are paid by means of accrued ITC, however festive demand will increase gross sales,” mentioned the CBIC chief Sanjay Kumar Agarwal.
Nevertheless, to make sure a seamless transition, the GST division is working carefully with business stakeholders to improve and align IT programs. “GST dept coordinating with business to improve software program for clean, glitch-free rollout of overhauled tax construction,” the CBIC chief added.
As well as, Agarwal expressed confidence that the brand new charges and tax computation system, which come into impact from September 22, shall be carried out with out disruption. He famous that companies and business gamers have a two-week window to make mandatory changes to their back-end programs.
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