Goods and Services Tax – GST – By: – Swati Kharkia – Dated:- 6-10-2017 – Anticipations from over a decade were put to rest on July 1, 2017 when India's biggest tax reform since independence, Goods and Services Tax (GST) was launched. With an attempt to create historic mark, the Government although claims to have succeeded in this smooth transition from the earlier tax regime to the new tax regime, but the scenarios after 75 days of its implementation does not justify the same. GST – A Goods & Simple Tax as christened by our Hon ble Prime Minister to make it look simple, but it didn t really change the hard realities faced by the public. Even after multiple representations from various sectors to postpone the date of the implementation of this historic reform , GST was implemented as planned by the Government albeit after 3 months from the scheduled date of 1st April 2017. Was the timeliness actually fruitful? Various instances of the difficulties being faced by the vast number
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ll, people started managing and memorising all they could to survive in the new regime with the typical Indian attitude of Jugaad . But… Just as they started understanding and implementing whatever they had learnt, amendments to the notifications started flowing in! Ah, Forget and Re-learn – The law of survival. More and more notifications were issued after 1st July which kept amending what was notified at an earlier date. When the government itself was not sure how things should be placed, with the GST Council also not being clear on the modalities (despite so many meetings at the cost of the public money), the public is expected to adapt to the new system. No complaints still, people continued the process of forgetting and relearning. With an approach to minimising tax evasion, monthly return filing system was adopted in GST. But as soon as the first due date approached, the Government seeming unready with their own infrastructure, brought in a Short-cut return called GSTR – 3
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
that if the system is not able to handle so many users together, if the bandwith is so weak, if the ASP/GSP are not properly trained, if the forms are not ready for use, then why is the monthly system of filing not being done away with! Is the extension in deadlines an intelligent solution to this disease of system error ? Or is it the manner in which time is given to the developer of the GSTN to put its house in order (both internally and externally)! Its high time the Government, more particularly the Hon ble Prime Minister intervene and wield its power to ensure the GSTN is up and running with the expectancy of more than 80 lakh users all at one time. The Government should also reconsider its decision and change the monthly system of filing returns to quarterly or half yearly. This will give the Government more time to put build a reliable network and enable the Government to revert to monthly compliance with the FY 2018-19. Alternatively, the Government should build such an infras
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =