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Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
GST - Industry reports cumbersome procedures & high cost of compliance

By TIOL News Service

NEW DELHI, FEB 18, 2018: FICCI conducted a survey of enterprises post the implementation of GST and all respondents of the survey reported cumbersome procedures and documentation for filing of returns. Monthly filing of GST return has been cited as a cumbersome procedure. Around 78% of the respondents suggested that the periodicity of return filings for those taxpayers having aggregate turnover above Rs. 1.5 crore should be changed from monthly to quarterly. For services providers, multiplicity of registrations was a concern as a separate registration is now required with every state where service is being provided. Respondents to the survey emphasised that filing of returns be made simpler. There should also be a centralised registration for inter-state services.

Feedback on GSTN Portal

All respondents of the survey pointed out issues with the robustness and volume handling capacity of the GST Portal. Problems like delayed reflection of updated data as well as payments, delays in process of input credit set offs, inability to upload heavy files of certain formats and lack of provision to modify or revise errors posed major challenges to businesses. Respondents suggested that a major revamp of the portal was necessary to make it more efficient. There should be provisions for auto set off of the liability against available credit.

Feedback on e-way bill

All respondents have cited likely implementation issues upon the introduction of e-way bill. The respondents found the current limit of 10 kms for the purpose of updating details of goods on the portal to be inadequate. Respondents, especially small businesses, felt that e-way bill need not be introduced as it was only an additional compliance requirement as all details of sale and purchase were readily available on the portal. It was suggested that the minimum limit for requirement be increased to 50 kms and there be no requirement of e-way bill for movement of goods within the city limits.

Businesses, especially exporters faced difficulty to claim refunds. The mismatch between shipping bill date and tax invoice date does not allow initiating refund of IGST paid on exports. They have suggested that this condition of matching shipping bill date and tax invoice should be waived off. Firms which supply raw materials to its SEZs locations located in other states is liable to GST as such a transfer is considered sales and is not getting a zero-rating benefit. Such transfers for captive consumptions should not be charged under GST.

Most respondents also stated that there is a need for greater clarification from the Government on the anti-profiteering provisions to ensure that they do not lead to undue harassment. Respondents suggested that the government should release detailed guidelines and FAQs with examples to clear away ambiguities.


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