One year on after the implementation of GST or Goods and Service Tax policy by the Government of India with the main intention of streamlining the taxation structure of the country. This tax does away with umpteen numbers of taxes imposed by states and centre by introducing a unified tax system. One journey of GST has mixed bag reviews with few people finding it a boon while few others struggling to understand all its ins and outs. Let us analyze the challenges and hardships faced during and after the implementation of one of the most influential reforms.
Right from its launch GST was subject to certain apprehensions that led to rise in the issues and disruptions in overall business setup of the country. Challenges like filing of returns, claiming refunds of duties and number of technical fidgets on the GST portal were faced leading to confusion and complications in running the businesses. Due dates for filing major returns were major issues because of slow response rates and technical errors that still are faced by many. There was problem with cash flow because of difficulties in filing refunds for Input tax credit.
• Synchronization between Centre and state
• Getting GST portal ready within limited time period
• Creating mass awareness of GST
• Proper training to department and taxation officers
• Lack of electricity and internet in remote areas
• Setting and developing infrastructure at fast pace.
All said and done one year of GST journey has not been smooth as it was filled with hitches and teething issues from day one. While many issues are addressed by GST council but there are still that remain unsolved.