The introduction of GST is bound to be a “gamechanger” for India’s economy despite the expected initial hiccups, which are being addressed by the government, a top official said today.
“Implementation of GST this year is going to be a gamechanger for the economy and logistics. The teething troubles in the transition period were expected.
“When you do such a massive reform there are bound to be some issues and challenges, but the government has been responding to feedback from stakeholders and making appropriate changes as required,” Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said.
Ramesh observed that while everyone was in favour of low indirect taxes, the revenue generation also needs to be factored in by the policymakers.
He was addressing the DTI 2017 exhibition here.