Govt keeps an eye on prices after GST; Cab Sec asks depts to constantly review supplies

Amid fears of sudden spike in prices, the government has asked all ministries to ensure that goods are not in short supply following the rollout of the Goods and Services Tax (GST) from Saturday.

The Cabinet Secretary PK Sinha today reviewed the market scenario after GST’s rollout and asked secretaries to constantly monitor the supply of essential commodities.

“The review was focused on consumer impact of GST. Government has asked all the departments to ensure that there is no shortage of products and consumer items in order to keep a check on prices,” the government said in a statement.

“Special emphasis was laid on to keep prices of essential commodities under check,” the statement said.

Senior government officials across different ministries including textile, food and consumer affairs, food processing, railways, fertilizer, department of financial services were a part of the review meeting.

Sinha asked secretary of each and every department to take responsibility of their implementation-related issues that their stakeholders, trade and industry may face.

Each ministry will now have to provide relevant information, including GST rates of products and services on their respective websites, the statement said.

Sinha also asked ministries to ensure that retailers and dealers must display a price list of the items sold by them, under the new indirect tax system.

“Government should ensure benefits of GST to pass on to consumers which would in turn also keep inflation under control,” the statement quoted Sinha as saying.

He further asked departments to be ready to deal with queries of their industries pertaining to GST.

“In order to do that officers of every ministry should equip themselves and have full knowledge of the details relating to GST concerning their respective ministry,” Sinha said.

Similar weekly review meetings will be held to keep a close watch on GST rollout.