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GST impact - Train fares to go up
Posted on: 24/Jun/2017 5:38:23 PM
Once GST gets implemented from 1st July throughout the country, the train fares for A/c class and 1st class will be up.
The tax on the train fare ticket is currently 4.5%. However, under the GST, this will be 5%.
Among the train fares, presently service charges are applicable only to 1st class and A/c class travel. So, if the fare presently is Rs. 2000, it will become Rs. 2010 after GST.
Indian Railways have appointed exclusive officers in each state to implement the GST from 1st July. It has also appointed some consultants for this in order to ensure trouble-free and smooth implementation of GST.
Indian Railways have already procured a PAN number (Permanent Account Number for Income Tax) as PAN is required for GST registration purposes.
The Regional General Mangers of each region have been appointed as the Chief Officers to oversee the smooth implementation of GST.
Activities have been in progress in order to set up a revised software for the Railway Information Centre, and Indian Railway Information Technology to accommodate the above new proposals.
Though most transactions in Indian Railways are already computerised, some transactions are still carried out offline. Action has been initiated for 100% online transactions.
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