GST Council To Decide The Returns On Friday | SupportBiz
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GST Council To Decide The Returns On Friday

 
Tags: GST
In order to ease doing of business for small tax payers, the GST Council would decide on the integrated Goods and Services Tax refunds at its next meeting in New Delhi on Friday, its Group of Ministers (GoM) head Sushil Kumar Modi said on Wednesday.

"The GST Council meeting on Friday will take important decisions on integrated GST refund and ease of doing business for small tax payers," Modi told reporters after the second meeting of the GST Network in New Delhi.

The first meeting of the GoM was held here on September 16.

The Bihar Deputy Chief Minister heads the five-member GoM, set up to look into the technical issues faced by the GST Network and address them in consultation with all stakeholders and its vendor -- global software major Infosys. “Structural changes in the GST regime will also be deliberated in the upcoming Council meeting with the member states from across the country and will be announced by Union Finance Minister Arun Jaitley," said Modi.

"Most of the IT-related glitches have been resolved and traders are finding the network easier to file their returns online." The revamped GSTN, which can handle 80,000 returns in a hour, will be enhanced to process 130,000 returns per hour by this month-end. About 20 lakh traders who have not filed returns on purchase and sales will be alerted through SMS to file before the last date, which Modi clarified would not be extended.

Suvidha Franchises:

The Indian government is equally taking efforts to ease burden and harassment faced by small businessmen and traders over filing good and service tax (GST) returns through the expansion of GST Suvidha Centres that are springing up across the country through a franchise model.

These centres, especially because of their low cost model, promise to reduce cost and burden of filing GST returns, could pave the way for making India’s biggest tax reform a success.there are 34 GST Suvidha Providers (GSP) allowed to develop necessary IT infrastructure for GST filings. So a taxpayer may now choose from one of these 34 third party solution providers to carry out the required filings under the GST regime. These IT solution providers are allowed to develop and distribute software to vendors across India who can in turn start a GST Suvidha Kendra. At such Kendra’s a small businessman can get all his required filing done at a nominal price, hence, it will be economically viable for them too as they do not have to set up their own computer systems or hire an employee for doing the monthly filings. The GST system has G2B portal for taxpayers to access the GST system but this can be done only through a third party application provider that is GSP. So essentially, what the tax payer is doing is that he is doing the required filings on GSP’s system that in turn is connected to the GST server.

Also,Revenue Secretary Hasmukh Adhia. In an interview to a leading business daily, said there is scope for rationalisation in the GST structure once revenue picks up. “The government and the GST Council would be open to the idea of reconsidering some decisions. But when people talk about ease of doing business, one must not forget that prior to GST, industry had to comply with 10 different taxes and a separate tax authority for all those taxes. But, nevertheless, if we find any practice that is obnoxious and not exactly taxpayer friendly, we would be willing to relook at them. We should make them taxpayer friendly, online and simple.”, he concluded.