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GST Committee Report on Payments

GST Committee Report on Payments
Start Date :
Oct 12, 2015
Last Date :
Nov 16, 2015
00:00 AM IST (GMT +5.30 Hrs)
Submission Closed

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State ...

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State level. The proposed dual GST envisages taxation of the same taxable event, i.e., supply of goods and services, simultaneously by both the Centre and the States.

The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, has been introduced in the Parliament for facilitating the introduction of GST in the country. Simultaneously, committees comprising of officers from the Central Government, as well as the State Governments, have been constituted for the drafting of Model CGST, SGST and IGST laws, and GST business processes of registration, refunds, returns and payments.

The draft Model CGST, SGST and IGST laws, along with GST business processes for filing of returns, shall be put up for inviting comments of stakeholders in due course. Presently, the draft business processes on GST registration, GST refunds and GST payments are being published.

The Report of the Committee on GST Payments is available here. Comments and views are invited on these business processes by 31st October, 2015. Users are requested to keep in mind the guidelines for posting their comments:

1. Please use the following hashtags for commenting on the report:
a. #GSTPayments: for general comments.
b. #GSTPaymentsForms: for comments on proposed GST Payment Form/challan.

2. Please restrict your comments to 500 characters. In case your comments exceed this limit, please upload your comments as a pdf document.

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Showing 83 Submission(s)
SANCHAY KUMAR ROY
SANCHAY KUMAR ROY 10 years 6 months ago
PAYMENT OF GOODS AND SERVICE TAX DUE DATE SHOULD BE 15TH DAYS OF FOLLOWING MONTH. EXAMPLE FOR TAX DUE FOR APRIL 2016 IT SHOULD BE DUE DATE IS 15TH MAY 2016 AND SO ON.. AND FOR TAX DUE FOR MARCH 2017 IT SHOULD BE DUE DATE IS 30TH APRIL, 2017. SO DEPOSITOR CAN CALCULATE TAX PROPERLY AND PAY TIMELY. IF NOT PAY WITHIN DUE DATE, A SIMPLE INTEREST WILL BE CHARGED @ 1% PER MONTH. PRACTION DATE SHOULD BE COUNT AS FULL MONTH. THANKS TO GOVT AND OTHERS. CMA SANCHAY KUMAR ROY.
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Ramakrishnan Chandrakanthan
Ramakrishnan Chandrakanthan 10 years 6 months ago
We must do an exercise in obtaining B to B Sales Invoices details from a Top FMCG Company like Hindustan Lever and B to B Purchase Invoice details of a Supermarket with a heavy turnover and cross-verify whether the system based matching of transactions of goods liable to tax at different rates practically works.Whether Department has super Computers (as in South Korea) to retain huge data of lakhs of invoices to identify mismatch in a month?
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Ramakrishnan Chandrakanthan
Ramakrishnan Chandrakanthan 10 years 6 months ago
As under VAT regime,the Manufactrers and the Importers of Goods from Other states and Countries effecting first Sales in the State should not be included in the composition Scheme.Turnover of Goods completely exempt from GST by a common all-India list should not be included in the Turnover for levy Composition Tax(0.5/1%)
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Ramakrishnan Chandrakanthan
Ramakrishnan Chandrakanthan 10 years 6 months ago
C.A.certificate has been made essential for Refund in cases of Deemed Export,Provisional Assessment Finalization,Pre-deposit in Appeal,Year-end or volume based incentives,Supporting Documents and Examination of Unjust Enrichment.As the cost of compliance would go up due to shortage of C.A.s,Cost Accountants and Company Secretaries may also be considered for certifiying.
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Umesh S Gudri
Umesh S Gudri 10 years 6 months ago
#GSTPayments:Please make every thing should be online, if we need pay single rupee to govt make a rule to pay through online. i hope we can control at least minimum of corruption in this field, under current scenario to get C Form & other forms sealed dealer has to pay minimum of Rs. 100/- as bribe and its very basic level and just assume to get registration under VAT act how much we need to pay as Bribe, its as decided by the officer. So Please make online System for all kind of transaction
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