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9 pilgrims burnt to death as bus catches fire near Nuh in HaryanaSpain denies dock permission to ship carrying arms to Israel12 Unicorns, over 125 startups commit to onboarding ONDCBEML secures Rs 250 crore order from Northern Coal FieldsBharat Parv celebration takes centerstage at Cannes Film FestivalSteel industry should work towards reducing emissions: Steel SecretaryI-T - Additions framed on account of unexplained cash credit & unexplained money, are not tenable where cash deposits & withdrawals were of personal funds & were done through banking channels: ITATUS says not too many vibrant democracies in the world than IndiaI-T - Benefit of section 11(2) can not be denied merely on reasoning that form 10 is filed belatedly: ITATSwati Maliwal case takes new turn with Kejriwal’s assistant Bibhav Kumar filing FIR against herI-T- Unexplained money - Additions sustained as assessee unable to provide proper explanation for amount withdrawn & subsequently deposited into same bank account: ITATIndia says Chabahar Port to benefit Central Asia and AfghanistanRussia seizes Italy’s UniCredit assets worth USD 463 mnCus - Order re-determining transaction value based on CRCL test report is not correct & hence unsustainable: CESTATPutin says NO to Macron’s call for ceasefire in Ukraine during OlympicsCus - If price is not sole consideration for sale, then transaction value can be rejected under Rule 8 of Export Valuation Rules & then must be redetermined sequentially through Rules 4 to 6: CESTATBrazil to host women’s World Cup 2027Cus - If there is additional consideration for sale, then proper course for the officer is to reject transaction value & re-determine value under Rule 4 or Rule 5 or Rule 6 sequentially: CESTATSC upholds ICAI rules capping number of audits per year

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Pile of Evidence Shows GST Needs Surgical Strike


GST- GOOD TAX BADLY IMPLEMENTED

Practically, a good system poorly implemented. How let us see:-
GST R1, R2 AND R3, introduced, due to technical problem (as entire system based on service providers and data not routed through the desired route and crashed server, resulting non implementation of system and temporary measure of 3B introduced.
No one taken pain to improve and implement system in phased manner like first units with above 100 crores tuernover and rest lateron.

As says every simplification makes tax more complicated, various exemptions granted and rates changes and various unneccesary circulars issued making things more complicated.
the worst part is now coming in new return, which is more complicated than present R1.

God knows what will be next in GST. people who involved in practicals never been consulted.

The person who never filed a single return is heading for simplification.

A real surgical strike is required in GST, which is difficult in near future in current scenario.

SATYA PRAKASH SINGH 10/12/2019

 

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