Revenue secretary Hasmukh Adhia GST will deliver results in the long run.
Revenue secretary Hasmukh Adhia has worked closely on the implementation of goods and service tax, which he says will deliver results in the long run.
This is a long-term structural quantify which will give benefits over a period of time but the transition pain is instantaneous and short-term. It was a modification that was in demand by the country, including by businesses and economists, for the last 10 years. Once there was political consent on the Constitution Amendment Bill, the government did not lose any time in the GST Council, where the draft rules were thrashed out at length and all key issues were premeditated upon in detail before the framework was firmed up.
The short-term transition pain will have to be wrapped up by all of us. We are working hard to make sure that everyone is comfortable and so are businesses. It's a learning experience for all of us. There will be a pain because the rules are unusual and the IT systems are different. Even before GST, in most states VAT filing was online and nine states had the requirement to match invoices, which has now been adopted for GST. But as long as the government is ready to listen, as long as the GST Council is supple and comes out with solutions in every meeting, it is good news for everybody.
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