With the GST e-way billing set for April 1, firm timelines and simplification will be key
While industry remains edgy about the capacity of the IT system to cope with e-way bills from April 1, new rules and forms for the generation of these transit challans have been issued. Tax experts have voiced concern about some of these rules, including one that empowers commissioners to notify those officers who can intercept any mode of conveyance to carry out physical verification of e-way bills while goods are in transit, akin to the old physical checkpost system. What is most disappointing for business, however, is the failure of the GST Council to finalise a simplified tax form for assessees. Infosys co-founder Nandan Nilekani has also made a pitch to help formulate a simpler return that involves just one monthly filing. Mr. Jaitley has said that there is scope for further simplification in the options available with the Council without rendering such a form ‘evasion-prone’. For now, taxpayers will have to stick to the current compliance system till June 2018. Similarly, the plan to pay GST under the reverse charge mechanism has been deferred till the end of June, to avoid ‘inconvenience’ to trade and industry. The e-wallet scheme proposed for exporters whose cash flows have been affected by delays in refunds on GST paid on domestic inputs has been deferred till October 1. For GST to become truly simple for taxpayers, certainty of timelines is as critical as the fear of the taxman.
Source : http://www.thehindu.com/opinion/editorial/not-by-fear-alone/article23164344.ece
