GST Committee Report on Returns

GST Committee Report on Returns
Start Date :
Oct 20, 2015
Last Date :
Nov 16, 2015
00:00 AM IST (GMT +5.30 Hrs)
Submission Closed

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State ...

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State level. The proposed dual GST envisages taxation of the same taxable event, i.e., supply of goods and services, simultaneously by both the Centre and the States.

The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, has been introduced in the Parliament for facilitating the introduction of GST in the country. Simultaneously, committees comprising of officers from the Central Government, as well as the State Governments, have been constituted for the drafting of Model CGST, SGST and IGST laws, and GST business processes of registration, refunds, returns and payments.

The draft Model CGST, SGST and IGST laws, shall be put up for inviting comments of stakeholders in due course. Presently, the draft business processes on GST returns, GST registration, GST refunds and GST payments are being published.

The Report of the Committee on GST Returns is available here. Comments and views are invited on these business processes by 6th November, 2015. Users are requested to keep in mind the guidelines for posting their comments:

1. Please use the following hashtags for commenting on the report:

a. #GSTReturns: for general comments.
b. #GSTReturnsForms: for comments on proposed Returns Forms

2. Please restrict your comments to 500 characters. In case your comments exceed this limit, please upload your comments as a pdf document.

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Showing 245 Submission(s)
NARENDRA AMBATKAR
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NARENDRA AMBATKAR 8 years 3 months ago

Returns filing: 1.Filing of various returns shall increase the compliance and that too within a period of 10-15 days would be cumbersome to finalise the details. 2.Return towards Inward Supplies (GSTR-2) to be filed within 15 days, whereas Para 3.2.3 provides due date of 17 days- this needs clarification. 3.As per the summary of returns, due date of Return for NRI(GSTR-5)is last day of registration, whereas Para 3.5 provides due date within 7 days of expiry of registration. Needs clarification

NARENDRA AMBATKAR
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NARENDRA AMBATKAR 8 years 3 months ago

As per Para 3.12, it has been provided to revise the returns already filed by debit / credit notes. Question arises as to how manual errors, typographical mistakes, etc be rectified through these documents. Alternatively, some columns may be provided in return for rectification of errors so that the same can be regularized.

NARENDRA AMBATKAR
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NARENDRA AMBATKAR 8 years 3 months ago

As per Para 3.10(11)on input service provider(ISD) methodology on distribution of ISD credit has not been specified. Also whether ISD can be distributed of IGST or CGST/SGST kindly clarify.
As per Para 5 requires a reconciliation between Annual Return and Audited Financial Statement. As most of the entities do not have State-wise Annual Reports it would be difficult to comply with this requirement. Methodology of gross profit computation would be as per accounting standards or as per GST laws.

OSMAN SHARIFF
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OSMAN SHARIFF 8 years 3 months ago

After an Hardship of 10-20 & more years of practice again STP's should go for bread and butter with Pvt company. Gov't should think and add stp's to add in gst returns. Otherwise its not a favourable move in reforms doing unemployment after such an hardship. Osman Shariff.

PRAVEEN GANAPATRAO ATADKAR
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PRAVEEN GANAPATRAO ATADKAR 8 years 3 months ago

up coming GST Act is without sales tax practitioners sudden unemployment will be created directly and indirectly. The GST should not provide only one class of practitioner. They also consider STP's who given their whole life for sales tax practice for their family and their dependents. So my request to consider STP's in this act. and STP's are very much capable. I hope the finance minister will look into matter seriously about our bread and butter. "Hare Krishna"

Veeresh_20
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Veeresh_20 8 years 3 months ago

STP's have been practicing VAT, Income Tax, Service Tax and Central Excise since many years and contributing immensely in revenue collection. They are well versed in all the tax laws. they have given employment opportunity to lakhs of people across India. Please authorize us to certify GSTR-8 annual return under GST Act

S S PATIL_ADVOCATE and TAX PRACTITIONER BELAGAVI
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S S PATIL_ADVOCATE and TAX PRACTITIONER BELAGAVI 8 years 3 months ago

Greetings from Karnataka State Tax Practitioners Association.
Respected Sir/ Madam, It is my humble request to kindly consider the provisions of Rule 12A of Income tax Rules,1962 where 5 class of professionals empowered to prepare returns. The Best Example is from Karnataka Sales Tax Rules, where Form 52-C certified by STP`s & the same transited to KVAT Rules in Form VAT 240. These rules should also be continued in GST Regime for a harmonious & encouraging voluntary tax compliances. Thank You.

Subashchandra Akki
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Subashchandra Akki 8 years 3 months ago

Ignoring ITP's and STP's in GST System shows that, the ministry of commerce has never thought about their valuable contribution to the Indian economy. The Tax Practitioners are well versed in the direct & Indirect tax, Rules, Act. etc. of Indian Govt. and they are providing good service as well as educating clients/assesses to pay the tax and development of Indian revenue. so please consider on review of GST.