CHANDIGARH: Chandigarh Beopar Mandal (CBM) forward GST suggestions to Finance Minister of India with proposals in direction of further simplification of GST procedures and rates.
A Comprehensive memorandum after the meeting of GST Co-ordination Committee of Committee has been drafted and sent to concerned departments including to Smt. Nirmala Sitharaman, Finance Minister of India highlighting need to further simplify rates and procedures under GST so that the new laws are traders friendly and also easy to be followed by the traders to revive the economy and sagging trade.
The memorandum has been sent with a request to be taken up in the coming GST Council meeting and has major demands as per below:-
- To bring uniformity, number of digits of HSN Code required to be filled on the Invoice should be same for all the traders irrespective of turnover for B to B invoices. However we suggest it should be four digits for all dealers.
- There should be only three numbers of standard slabs of G.S.T. namely 0%, 5% and 15% with maximum of items in 5%. This will bring ease of doing business.
- Submission of revised Returns should be permitted to the Assesses.
- There should be no scrutiny Cases where G.S.T. Returns are timely deposited and are as per procedures.
- Instead of criminal cases and punishment, there should be provision of penalty or fine only.
- The purchaser purchases the goods from the seller and pays the GST amount along with basic price. Now, if the seller does not file his return and does not pay his output tax, then there should be no responsibility of the purchaser to pay the tax again hence purchaser must be entitled to receive his input tax credit on the basis of original Invoice and books of accounts. To make the G.S.T. simple and friendly, The G.S.T. Department should see that sellers should pay tax on their sales invoices and the sellers may be fined if the sellers found guilty.
- TCS or TDS of 0.1% on sale of more than 50 Lac to one dealer should be stopped as it increases work load of traders unnecessarily.
- Time limit for scrutiny/auditing of GST cases should also be fixed three years from the due date of filling of annual return on the pattern of Income Tax.
In general also there should be a lenient view to be adopted by Authorities towards Traders due to being adversely effected during the Corona period and after.