The Confederation of Indian Industry (CII) on Tuesday said the Goods and Services Tax (GST) is a 'herculean' task which is in its initial stages, and any discrepancies will be resolved by the Government and governing boards.
Speaking to ANI on the sidelines of the launch of the South Asia Chapter of Business Ethics Leadership Alliance, Co-Chairman of CII National Committee on Industrial Relations Pradeep Bhargava assured that while the glitches in the GST Network (GSTN) will be resolved, the nation will get healthier with the introduction of the new tax regime.
"The GST is a major challenge for the country, and did not come as a surprise. It is the result of relentless hard work by the government, who had prepared for months to get a consensus on the matter. Whatever loopholes are there, the government is acting on it and will fix it at the earliest. I have full faith that the nation will be healthier in the long run," he said.
Re-iterating this, former President of CII and CMD, Tractors India Ltd, Sumit Mazumdar stated that end products will get cheaper post GST, adding that Finance Minister Arun Jaitley is looking into special considerations for small companies.
"The GST is a major step that was discussed for 15 years. Time and again, it was stalled for various reasons and became unpopular eventually. However, this government took it up and decided to go ahead. Anything new cannot be absolutely perfect; it is bound to take time," he added.
However, the Centre was lately criticized by the customers as the GSTN server crashed multiple times.
Disclaimer: No Business Standard Journalist was involved in creation of this content
