Govt ropes in Big B to promote GST

Brunilde Fioravanti
Giugno 19, 2017

Jaitley said companies will be allowed to file late returns for the first two months so that they can adapt to a new online filing system.

"The relaxation for filing transaction-wise details returns in July, August till September with interim aggregate return will provide relief to the industry and is very welcome", said Harishanker Subramaniam, national leader, indirect tax Services, EY India. As per the revised return filing schedule, for the month of July, the sales returns will have to be filed by 5 September instead of 10 August. For August, the new deadline for GSTR-1 is September 20 instead of September 10.

The GST Council will meet again on June 30, the eve of the launch, Jaitley said.

Kerala and other states which rely on tourism were also benefited from a decision not to impose a 28 percent tax on air-conditioned hotel rooms with a rent below Rs 7,500 per day, not Rs 5,000 as earlier planned.

The GST Council in its Sunday meeting cleared the anti-profiteering rules.

Another trader Krishna Kumar Bangard said, "The traders' community does not have any issues with paying taxes which we are paying happily".

"We don't have the luxury of time to defer implementation of GST". Jaitley said that barring Uttarakhand, which has opted for a Rs 75 lakh threshold for the composition scheme, and Jammu & Kashmir, the Rs 50 lakh threshold will continue for all other special category states.

The Finance Minister said registration of tax payers was going on in a satisfactory manner.

"Costs incurred by the logistics sector will reduce after the implementation of the GST", said Abhishek Bansal, co-founder and CEO at Shadowfax, a pan-India technology-based logistics service provider. The authority is likely to have a sunset date of two years.

A standing committee of nine members, consisting of state, central and GST Council officials, will examine complaints that will be passed on to the Director General Safeguards for investigation. "Till then, an alternative rule will operate. which will authorise the existing system of the states to continue", Jaitley said.

Local media had reported that more than 60 zero-rated food items would be subject to the six per cent GST from July 1, after the order was gazetted on June 6, 2017.

The GST Council meeting on June 30, on the eve of the implementation of the new system, will be followed by a celebration at Parliament's Central Hall.

GST comes in several slabs, ranging from zero to 28 per cent taxes. There is a complex tax environment for the e-commerce which brings ambiguity and disputes but now new GST taxation will affect the fundamentals of tax in e-commerce.

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