CBIC Holds Key Meeting with Industry for Smooth GST Reform Rollout, ETCFO
New Delhi: The Central Board of Indirect Taxes & Customs (CBIC) is set to hold a meeting with industry associations and trade bodies to discuss the implementation of recent GST reforms and rate rationalisation. CBIC chief Sanjay Kumar Agarwal has also urged field formations for proactive outreach to assist businesses in ensuring a smooth transition.
Starting Wednesday, the meeting will bring together key ministries and sectors to facilitate seamless implementation, address technical queries, and widely disseminate reform measures.
The CBIC chairman and other senior officials will attend the meeting. “Different sectors have different supply-chain mechanisms, and with less than 15 days before the rollout of the new rates, the effort is to make this transition as smooth as possible without any disruption,” a senior official told ET. The council has announced a simplified GST structure with two slabs-5% and 18%-alongside a 40% tax rate on luxury and sin goods. The new GST rates will take effect from September 22, except for tobacco products.
Earlier on Tuesday, the government announced measures allowing manufacturers to revise the maximum retail price (MRP) until December 2025. Additionally, Agarwal emphasised the need for “proactive outreach” by tax officers to guide trade and industry through the transition. “As these transformative reforms take effect, it is crucial to support trade and industry in navigating the transition smoothly,” he said.
