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IMD says rainfalls to stay in many parts of India till May 16China launches new satellite into space todayNY Consulate of India to remain open 365 days for ‘genuine emergencies’Philippines sends naval ships to atoll being converted into island by ChinaSwitzerland wins Eurovision Song Contest 2024Massive rally in Georgia against Kremlin-style ‘Foreign Agent’ BillNorth Korea hackers steal data from Seoul CourtBinance registers with FIU; gears up to resume crypto exchange operation in India200 killed in Afghanistan flash floodsChina supports UN membership of Palestine; urges US not to block processWhere no tax has ever gone beforeNHAI debars Toll Operating Agency for misbehaving with Highway UsersOMCs' FY24 combined profit rises over 25-times year-on-yearTechnology Council reviews status of induction of DRDO technologies into CAPFs, Police & NDRFGovt organizes workshop on Quality Control in Green HydrogenI-T - Assessing Officer cannot deny benefit merely on basis of documentation: ITATWhite House expected to up tariffs on several Chinese goods in coming weekI-T - AO shall grant resultant benefit u/s 50C on sale of immovable property, by taking valuation based on sheet of registrar: ITATJaishankar to take up Kartarpur entry fee of USD 20 with PakistanWHO reports some progress on pandemic treaty but deadline is missedGST - Mens rea to evade tax is essential for imposition of penalty, revenue is directed to refund the amount of tax and penalty deposited by petitioner: HCKCR says regional parties can form Govt at Delhi with outside support from NDA or INDIAIndustrial production tapers down to 4.9% in March month

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GST is here to stay; Let's not butt heads over the Basics


Advance Ruling GST

Overhauling of Advance Ruling is seen mentioned in this article. It is felt that it is now time to think why should we have these Advance Ruling authorities for a good and SIMPLE tax even after three years of its administration. Why should confusion prevail in those areas. Couldn't that too be taken up by GST council on a prioritised manner and clarifications issued so that the advance ruling authorities could be also thought of whether to be continued or not, similar to that of anti-profiteering mechanism.

The credit for creating the scope of Advance Ruling mechanism to this much extent should go for the learned who had drafted the GST laws in the simplest manner so that all the taxpayers could comprehend it in one read.

VASUDEV SR 06/07/2020

 

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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

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