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Experts to consider new changes in GST

GST council has already made available the trial run of offline tools of New GST returns. However, experts are in the view that it has been two years of rollout the GST, still many issues have yet to be resolved.

There is a need to create awareness among businesses, because unknowingly they are not complying with the new rules.

Close to 350 representatives from 27 states will participate in the one-day event by National Action Committee of Tax Practitioners (NAC) of GST Professionals.

As the new returns are being introduced, this transition phase is also crucial. Hence, we need to ensure that businesses and tax practitioners are at ease while filing returns and committee will consider these issues.

Transition to new tax returns, decreasing the compliance cost of small businesses and increasing awareness about Goods and Services Tax (GST) among businessmen will be a part of the agenda of the upcoming meet of tax practitioners in Indore on August 3.

A statement on major issues being faced by the businesses and the likely issues to be faced during the transition to new GST returns will be prepared and submitted to the Finance Minister.

We need to ensure that businesses and tax practitioners are at ease while filing returns. Another major challenge is to reduce the cost of compliance for the tax practitioners. There are some compliances which can be removed. This can decrease compliance cost.

Urvish Patel, president of Gujarat Sales Tax Bar Association also said “However tax practitioners feel that lots of issues still need to be addressed. Often the system gets crashed because of the increased traffic. “Still there are issues with the system. There are problems in claiming the refund. There are mismatches in returns filed. Even now, the forms need lots of corrections”.

Author: Niranjan Reddy

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