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Gujarat: Small businesses eye simplification from GST Council meet

04-Aug-2018
Gujarat: Small businesses eye simplification from GST Council meet

Small businesses are seeking simplification in filing of returns and compliance requirements from the GST Council meeting on Saturday. They fear that the council will propose a late fee for delay in payment of taxes. They feel that this would be duplication as interest is already charged when the payment is delayed.

Varis Isani, former president of Gujarat Sales Tax Bar Association, said that some of the major initiatives for simplification expected from the meet include filing of quarterly returns instead of monthly returns, especially for small businesses. Moreover, they also feel that the deadline of 10th of every month for filing of GSTR-1 for purchases made is too early and should be extended accordingly.

Tax advocates feel that announcements regarding amnesty schemes for taxes such as VAT and excise duties are likely. The GST Council may also ask states to bring similar schemes for VAT. Moreover, the format for annual GST returns and format for audit of GST are also likely to be announced. The government may also incentivise businesmen who pay taxes digitally.

The Gujarat Chamber of Commerce and Industry (GCCI) also sought an integrated helpdesk that will coordinate all matters related to CGST, SGST and IGST. This helpdesk should also provide response to grievances raised through emails. It also sought provisions for dealers not paying taxes as they should be severely penalised to ensure that tax payers get their refunds on time.

The GCCI also suggested review of decision to exempt sanitary pads from GST as its manufacturers cannot avail refund on tax paid while buying raw materials. It said that GST refund should also be available on building materials such as cement, steel and others used to manufacture industrial sheds and warehouses.


Source :- Dnaindia.com

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