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GST - CBIC to look into demand for one more Revision of Returns before Annual Return

Published: Jun 29, 2018

By TIOL News Service

GUWAHATI, JUNE 29, 2018: THE CBIC on Wednesday conducted an Open House to redress GST-related issues of the industry and trade here. It was attended by Member (GST), ADG of DGGST and many senior Commissioners and Chief Commissioners of the Zone. There was overwhelming presence of the representatives of the industry at the event.

On the demand of exemption from e-Way Bill to intra-state supply of essential drugs and also inter-state supply to all N-E States as Guwahati is the origin for all such supplies, a promise was given that the jurisdictional Commissioner would examine and take a call on this issue.

In response to the demand that the registration threshold of Rs 10 lakhs puts avoidable compliance burden on the businesses and the revenue loss to the States was a myth, it was stated that if the States recommend a hike in such limit, it can be raised but only after amending the GST Acts.

The trade also demanded that a general amnesty should be granted from late fee for late filing of return during the first year of the GST as it is an evolving law and the GSTN is not yet fully functional with all the utilities. The CBIC has stated that since it would hurt compliance no such benefit can be sanctioned.

The industry representatives also demanded that before filing of the Annual Return and TRAN-1, the assessees should be permitted to revise their returns at least once so that errors could be rectified. And the CBIC officials have promised to look into the suggestion sans the TRAN-1. On the issue of Advance Ruling-related problems, it was clarified that a proposal to set up a National Advance Ruling Authority is already under consideration. In response to a demand to ban the use of thermal printed invoices, it was stated that the CBIC would be examining it.