{"id":1284,"date":"2015-12-09T09:06:00","date_gmt":"2015-12-09T09:06:00","guid":{"rendered":"https:\/\/taxolegal.com\/gstblog\/?p=1284"},"modified":"2021-12-02T09:10:12","modified_gmt":"2021-12-02T09:10:12","slug":"gst-returns-issues-yet-to-be-resolved","status":"publish","type":"post","link":"https:\/\/taxolegal.com\/gstblog\/index.php\/2015\/12\/09\/gst-returns-issues-yet-to-be-resolved\/","title":{"rendered":"GST Returns \u2013 Issues Yet to be Resolved"},"content":{"rendered":"\t\t
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The Government intends to introduce the Goods and Services Tax\n(GST) at the earliest possible opportunity. GST will subsume many indirect\ntaxes at the Central and State level. It envisages a single taxable event,\ni.e., supply of goods and services, taxed simultaneously by both the Centre and\nthe States. GST will be self-assessed destination based taxation system.<\/span><\/o:p><\/span><\/p>

In any self-assessment system the submission and processing of\nreturn is an important link between the taxpayer and tax administration. A Tax\nReturn is an important tool for: (i) Compliance verification by tax\nadministration; (ii) Providing necessary inputs for taking policy decision;\n(iii) Management of audit and anti-evasion programs of tax administration; (iv)\nFinalization of the tax liabilities of the taxpayer within stipulated period.<\/span><\/o:p><\/span><\/p>

The GST Committee set up by the Government has proposed that there\nwill be common e-return for Central GST and State GST. Every registered person\nis required to file a return for the prescribed tax period. A return needs to\nbe filed even if there is no business activity (i.e.Nil Return) during the said\ntax period of return. Total of Eight types of returns are proposed for assessee\ndepending on their nature of activities.<\/span><\/o:p><\/span><\/p>

A new GST portal would come in place which will be common for all\nassessee. The assessee would be required to file Returns only through\nelectronic modes. This proposal will create hassle for people doing business in\nremote areas where internet is yet to reach. Also, people who are not tech\nsavvy, will be required to take help of professional for return filing.<\/span><\/o:p><\/span><\/p>

One proposal made by the committee is that there would be no\nrevision of returns. Now this may turn out to very unpopular and impractical\nmove. If a person has committed a mistake, he must have some option to correct\nit within reasonable time. At present, Service Tax, Income Tax, VAT laws allows\nrevision of return. Thus, such proposal if accepted, it will create unnecessary\nlitigation and altercation between trade and tax department.<\/span><\/o:p><\/span><\/p>

After the GST Return has been uploaded onto the GST Common Portal,\nthe automated system will undertake the following activities: (i) Acknowledge\nthe receipt of the return filed by the taxpayer (ii) Forward that GST Return to\ntax authorities of Central and appropriate State Govt. (iii) The Input Tax\nCredit will be confirmed to purchasing taxpayer in case of matched invoices.\n(iv) Communicate to the taxpayers through SMS\/e-Mail, about the macro results\nof the matching. Reversal will also take place where credits are not matched.<\/span><\/o:p><\/span><\/p>

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The proposal to deny the credit due to invalid returns filed by\ncounterparty supplier is a regressive step. It is not possible to verify or to\ncontrol returns and details submitted every vendor. Historically, small\nassessee constitutes large numbers of taxpayers, and they are not impeccable in\nthe compliance of taxes. This was the reason for bringing RCM in various\nsectors. Now to deny credit of assessee because of fault of his input or input\nservice supplier seems bit harsh. Let us hope that new taxation system irons\nout its flaws before it is administered.<\/span><\/o:p><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Government intends to introduce the Goods and Services Tax (GST) at the earliest possible opportunity. GST will subsume many indirect taxes at the Central and State level. […]<\/p>\n","protected":false},"author":1,"featured_media":576,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst"],"uagb_featured_image_src":{"full":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",1000,600,false],"thumbnail":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",150,90,false],"medium":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",300,180,false],"medium_large":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",768,461,false],"large":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",1000,600,false],"1536x1536":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",1000,600,false],"2048x2048":["https:\/\/taxolegal.com\/gstblog\/wp-content\/uploads\/2021\/10\/gstin20210118144318.jpeg",1000,600,false]},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/taxolegal.com\/gstblog\/index.php\/author\/taxol_amyas2u3\/"},"uagb_comment_info":0,"uagb_excerpt":"The Government intends to introduce the Goods and Services Tax (GST) at the earliest possible opportunity. GST will subsume many indirect taxes at the Central and State level. 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