(a) whether the present Goods and Services Tax (GST) system is faulty and needs corrective measures to streamline the system;
(b) if so, the details thereof along with the reaction of the Government thereto;
(c) whether the Government has invited the suggestions to improve the system and if so, the details thereof; and
(d) whether the Government has so far received any suggestions from economists and industrialists to improve the present GST system and if so, the details thereof?
MINISTER OF STATE FOR FINANCE (SHRI ANURAG SINGH THAKUR)
(a) and (b) No Sir. GST has replaced multi-layered, complex indirect tax structure with a simple, transparent and technology–driven tax regime which has integrated India into a single, common market by removing barriers to inter-State trade and commerce. GST has eliminated cascading of taxes and reduced turnaround time for the transporters.
All teething issues are being proactively resolved regularly by the GST Council and the Government.
(c) Yes Sir. The Government conducts frequent meetings with the trade and industry.
(d) Representations received from trade and industry are examined, collated and brought before the GST Council from time to time. Based on the recommendations of the GST Council, amendments have been made to the GST Acts vide the CGST (Amendment) Act, 2018, the IGST (Amendment) Act, 2018, the UTGST (Amendment) Act, 2018 and the GST (Compensation to States) Amendment Act, 2018. Amendments in the GST Act have also been carried out in the Finance (No.2) Act, 2019. Further, 34 amendments have been made in the CGST Rules, 2017 till November, 2019.