GST dept coordinating with industry on software upgrade for smooth rollout of new tax structure: CBIC
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) The GST department is coordinating with the industry for software upgrade to ensure smooth rollout of the new tax structure from September 22, a top tax official said on Thursday.
Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal also said that the industry need not worry about accumulation of input tax credit (ITC) on goods in which tax rates have been reduced, as they can use the accumulated credit to pay taxes.
The GST Council, comprising the Centre and states, have approved overhauling the Goods and Services Tax (GST) effective September 22, mak
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so that the entire rollout is very smooth, which will not have any glitches. We are confident about that,” Agarwal said.
Asked about industry concerns about blocked ITC, Agarwal said the dealers of such goods items will be entitled to claim the full ITC on whatever rate they have paid taxes on inputs.
“When they sell the goods or make the supplies, from 22nd September onwards, new rates will apply so they can utilise the ITC, which is available to them for making the duty payment while filing returns,” Agarwal said.
He said the ITC accumulation will be there, maybe for a very short period, and after that it will be again smooth.
Agarwal said that as businesses pay taxes using ITC, there might be some dip in monthly collection.
“We see
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