GST Council forms 18 groups to sort out industry worries

The GST Council has set up 18 sectoral groups to interact with various sectors of the economy like telecom, banking and export and sort out their issues in a time-bound manner for a smooth transition to the new indirect tax regime.

Besides, separate groups have been formed to address issues related to sectors such as IT and ITes, textiles, gems and jewellery, food processing, e-commerce, oil and gas, pharma and MSME.

These sectoral working groups consist of senior officers from the Centre and states and they will interact and examine representations received from trade and industry associations/ bodies of their respective sector.

These 18 sectoral groups representing various sectors of the economy and containing senior officials of the centre and the states will ensure smooth implementation of GST by timely responding to the issues and problems of their respective sectors.

The groups will interact and examine representations received from trade and industry associations/bodies of their respective sector, highlight specific issues for the smooth transition of the respective sector to the GST regime and prepare sector specific draft guidance.

The decision was taken at the 14th meeting of the GST Council held on 18h-19 May 2017 in Srinagar, a finance ministry release stated.

"Concerned industry groups/associations or even individual industry representatives may approach the respective sectoral group officers with their problems relating to GST implementation who, in turn, will try to guide and help them in resolving the same," the statement said.

This exercise will help in dealing with most of the sectoral problems and issues at the local/regional level, it added.

The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising state counterparts, has already decided on the tax rates for goods and services under various sectors to be levied under the new tax regime from 1 July.