sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
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
Latest Expert Exchange
Service Tax »
 Should you use home sale value to get tax break
 Auction of Government of India Dated Securities November 12, 2018
 Auction for Sale (Re-issue) of Government Stock (GS) November 12, 2018
 How can I save tax on gains made on selling a shop a
 Here's is a quick guide to how you can save tax on gifts
 Don't buy life insurance just for saving tax, ask these 4 questions before investing
 E-tailers caught between state laws & penalty on tax
  Central Goods and Services Tax (Eleventh Amendment) Rules, 2018
 Central Goods and Services Tax (Twelfth Amendment) Rules, 2018
 The Central Goods And Services Tax (Amendment) Act, 2018
  How much tax are you liable to pay on long-term capital gains on property?

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 2018 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