An unresolved puzzle

Free flow of the credit chain is the key to GST implementation

The GST Council meeting on Friday concluded by putting a smile on quite a few faces. Both industry and consumers have reasons to rejoice after the Council approved slashing the GST rate across more than 170 items from 28 to 18 per cent. 

The efforts made by the government towards ironing out difficulties faced by taxpayers (in terms of expanding the composition scheme, exemption for service providers making inter-state supplies of services, deferring the e-way bill provisions, and deferring tax collection at source provisions) are commendable. It clearly indicates the intention of the government to ensure that GST implementation in India