DEPARTMENT COMMENTS ON GST -VERY INTERESTING

You will be quite happy after Reading the comments given by Department on First Discussion Paper on GST.I have given the full text below .But few Interesting one are Listed First .I can say that at least intention is good ,but In India law is very efficient but implementation is very poor.Let see.

There should be a uniform threshold for goods and services for both SGST and CGST. This annual turnover threshold could be Rs.10 lakh or even more than that. The threshold exemption should not apply to dealers and service providers who undertake inter-State supplies. The problem of dual control is better addressed through a compounding scheme as well as administrative simplification for small dealers through measures such as:

• Registration by single agency for both SGST and CGST without manual interface 
•  No physical verification of premises and no pre-deposit of security
• Simplified return format
• Longer frequency for return filing
• Electronic Return filing through certified service centres / CAs etc.
• Audit in 1-2% cases based on risk parameters
• Lenient penal provisions

There may not be any need to have direct link between compensation package, if decided for, and the threshold for registration for North-Eastern and special category States.


Labels: CST, E-1 SALE, first discussion paper on gst, GST, KNOW YOUR TIN

Tuesday 26 January 2010