Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee D. Twitter or FAQ related issues Solution provided through Twitter and /or FAQ in some cases are contradictory in nature and even FAQ are having disclaimer which is creating confusion. (xii) Salary to Partner by Partnership firm Twitter has clarified that salary paid by… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee D. Twitter or FAQ related issues Solution provided through Twitter and /or FAQ in some cases are contradictory in nature and even FAQ are having disclaimer which is creating confusion. (xi) Supply of Business Assets on which Credit has not been availed is subject… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee (x) Delay in responses from GSTN Helpdesk Due to bulk migration and registration many assessees have faced this issue that they are unable to reach the GST helpdesk and are unable to receive satisfactory responses from the helpdesks through emails or calls. Suggestion It… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee (ix) One cash ledger instead of separate cash ledger(s) Issue: Credit in Cash ledger is segregated into different heads which made assessee unable to set off the cash credit of one head for other which can be possible if there is a uniform cash… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee C. GSTIN related issues (viii) Deferment of matching requirement & Time line provided for filing of return is cumbersome Issue : Due to the matching concept filing of return leads to 10th, 13th, 15th , 17th & 20th as the case may be wherein in… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee (vii) Exemption to small assessee be provided to pay tax on receipt basis wherein in erstwhile law upto Rs. 50 Lacs assessee was permitted to pay tax on receipt basis. Read Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Related Topic… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee (vi) Exemption to exporter from payment of Tax on Inputs the time system stabilize : A general exemption maybe issued for a period 6 months to enable exports of goods as well as services to be carried out without any payment of taxes… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee (v) Transitional Credit is not available to Manufacturer / Service provider : (a) Transitional credit not being available to some manufacturers/ service providers would be discriminatory and impact the margins. Needs to be provided to all if the goods/ services earlier were not liable… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee (iv) Mandatory Registration under section 9(3) for Reverse Charge purpose need not trigger the provisions of section 9(4) Section 9(3) of the CGST Act, 2017 provides that the Government may, on the recommendations of the Council, by notification, specify categories of supply of goods… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee B. Implementation teething issues on GST (iii) Compulsory Registration U/s 24 of CGST Act, 2017 in case of Inter State Supply As per Section 24 of CGST Act, 2017 in case of Inter State Supply of Goods or Services Compulsory registration is required to… Read More »