Innumerable circulars and GST notifications impacting flow of business

gst-modern-city-e1509348958611.jpg

Multiple rates, high peak rate, intricate procedures and complicated returns have made India’s GST most complex, aver trade sources.

Stating that the trade and industry had resolved to face the teething problems that any new system would encounter in the initial phase of implementation, S Rethinavelu, Senior President, Tamilnadu Chamber of Commerce and Industry said “we have entered the third year of GST implementation. It is but natural for the tax payer to expect hassle-free flow of business and service activities, besides ensuring continued revenue proliferation under GST. The GST Council will have to redouble its initiatives to further streamline GST rates and procedures.”

On the other hand, innumerable circulars and notifications after the roll out of GST from July 1, 2017 have confused the tax payers. To add insult to injury, a good number of officials themselves are not conversant with all the provisions of the Act and Rules. Under such circumstances, how can the innocent trader, particularly those in the MSME sector know the rules and the Act, notwithstanding the circulars and notifications issued every now and then, asks Rethinavelu.

If clarifications are sought to be implemented from July 1, 2017, a majority of players in the MSME sector would have to close shop, the senior president of Tamilnadu Chamber said while reiterating the need for abolishing the 28 per cent GST slab and making the GST rate on services affordable for the common man.

The Chamber has also appealed to the government to consider generation of e-invoice on the GST portal for every sale-based on certain turnover to avoid tax evasion. “Since e-invoice is generated from the GST portal all returns will be auto populated, leaving the dealer to simply verify the entries. This will negate the need for generation of e-way bill for transporting the goods,” he said.

Source : https://www.thehindubusinessline.com/economy/innumerable-circulars-and-gst-notifications-impacting-flow-of-business/article28274967.ece

Leave a Reply

Your email address will not be published.

Solve this and then Post Comment *

scroll to top