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Wednesday, October 4, 2017

Goods & Service Tax (GST)

GST implementation has completed 3 months in India and government is pushing many efforts for smooth functioning of it but traders all over India are protesting against it, may be due to slowdown and problem arising out of money demonetization. The fall down in GDP growth has given a chance to political opponents to speak against GST. On the part of government the failure of GST Website, technical issues, other issues had created a situation of harassment for GSTIN holders. The HSN code wise details, stock details, bill wise details for retailers and small shop keepers is really a big problem as they have to invest too much time in record generation, maintenance and keeping.

I think the government must push some computer and IT experts to solve down the issues faced by taxpayers in filing of GST returns and number of returns which needs to be filed every month should be brought down to single return per month. Tax may be collected every month via GSTR-3B and other complete details may be submitted by taxpayers on quarterly basis as it will give time to government to deal with IT issues and ease down the problem of traders. The step will definitely improve GDP and improve businesses. 

Let's see what government do in this regard, kindly post problems faced by you. Also mention ideas  and solutions according to you for GST.

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