Daily Editorial Cloze Test Quiz – 63 (New Pattern)

Editorial Cloze Test Quiz

For a reform that was cracked up to be India’s biggest tax overhaul ________(1)________ (since) Independence, the roll-out of the goods and services tax is off to a less-than-desirable start. Over 80 days after its introduction, the GST Network, its online backbone, is struggling to keep pace with the millions of invoices and returns being filed electronically by businesses _______(2)________ (over) the country. The government has extended the deadline for filing GST returns for July, the first month of the GST era, twice. And Finance Minister Arun Jaitley has reiterated an appeal to taxpayers to not wait _______(3)________ (to) the last day, to avoid burdening the GSTN. But even those filing returns well before the last date have struggled. It is clear that the network had not been fully tested for chinks before July. A ministerial group formed by the GST Council to resolve the GSTN’s glitches gave an assurance last Saturday that 80% of the problems ______(4)________ (could be) fixed by the end of October. For a country that takes pride in its IT edge, this is a strange impasse. Critically, for an economy that is slowing down for multiple reasons, even more troublesome is the implication of these implementation stumbles for 85 lakh taxpayers now registered for GST. Exporters, for instance, have already alerted the Centre that the delayed timelines for filing GST returns (the last of which must be sent in by November 10) will mean that no refunds can be expected before mid-November on input taxes paid in advance and the integrated GST _______(5)_________ (imposed) on goods they imported.


Editorial Cloze Test Quiz

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