News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Service Tax »
 Central Goods and Services Tax (Fifth Removal of Difficulties) Order, 2019
  342 startups get angel tax exemption since February
 You can submit Form 15G/Form 15H even if your total income exceeds tax-exempt level
 5 compelling reasons to make income tax saving investment now
 Senior Citizen? Are you aware of these income tax benefits
 Facing difficulty in Income Tax Return filing? These apps can help you out
 Filing ITR-1 Sahaj Form will not be the same anymore; Check out what has changed
 If you haven't filed your taxes yet, here are some last-minute tips
  ITR-1 for FY2018-19 asks for interest income break-up from tax payers
 Check Your Income Tax Refund Status? Here's A Step-By-Step Guide
 How to calculate gratuity and the tax exemption amount you can avail on it

Govt to go soft on GST monitoring for a few months, let traders settle down
June, 15th 2017

There will be some leniency in monitoring and implementation of the new goods and services tax in initial months to allow businesses to settle into the new tax regime, a review of GST preparations by a group of senior ministers was told.

The discussions held on Wednesday saw the ministers being given a presentation of the planning done by the government so far, with officials informing that more than 4,500 meetings had been held all over the country to familiarise traders and businesses with the landmark tax reform.

With the review going over feedback such as lack of internet connectivity in some parts which could affect uploading of data and the sheer novelty of the new measures, the ministers were assured that the government will provide leeway in the initial rollout period.

"The idea is to allow all concerned to understand the operational requirements and we understand that there will be some teething troubles. The government machinery will give time for the system to fall in place," said a minister.

The government has pointed out that internet connectivity will be tackled where it is a chronic problem but the process of updating records will not be more than a day or two of work for traders. Similarly, the session saw officials point out that reports that GST will need frequent filing are not correct and the system will be more userfriendly as months go by.

The deliberations were intended to check for possible loopholes and anticipate problems that need to be addressed. The government is banking on the tax reform to invigorate the economy and is sensitive to bad press miring the effort.

Though there have been several exercises to prepare for the rollout, ministers agreed that there is a lot that may not be fully anticipated and there is need for a quick response. The perception battle will see BJP ministers and organisation engage in a major outreach and this has been the subject of planning in the government as well.

Got to go slow and careful sensible after implementation of something completely new

PMModi has urged ministers and the officials concerned to ensure a massive outreach over the GST and ensure that its benefits are fully explained. The review also discussed measures to take the message to both consumers and businesses and improve compliance in an effort to win the perception battle.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions