There are lot of shortcoming. GST should be payable only when one receives the payment and not when one raises the invoice
What happens when the service receiver refuses to pay IGST ?
These issues need to be resolved. more
What happens when the service receiver refuses to pay IGST ?
These issues need to be resolved. more
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Concept of IGST is good for honest and fair society. Government has collected revenues whether applicable or not and so Government is happy and it's officials are also happy as they get some work when someone needs to claim the refund and also an opportunity exists for exploitation as Britishers used to practice. We must appreciate that no one has courage in our country to bring the fair and honest practices. Our Governments have been great all the time as these never thought of optimising its expenditure but to meet its all undue expenditure these have loaded the common people with extra burden through taxes and enhanced rates of taxes. more
Sep 23
what you write makes a lot of sense only from the point of view of the seller. I would personally love it if such a rule is made. But them think of all the complications that it would raise. Firstly it would be impossible for the government to track who has received the payment and who has not. If we were a country where all dealings are only through non cash mode and there is no cash transactions involvement anywhere in the supply chain line for any expense whatsoever then something could possibly be worked out. BUT are we willing to turn into a cashless nation????? Agreed that there are provisions to reverse the ITC taken by the customer and resolve the matter to that extent, but if your customer is a big corporate with whom you wish to continue doing business will you make use of the provision and jeopardise your relationship with them? If the government brought in a provision to that the buyer has to declare in the GSTN site that all purchases for which ITC has been claimed are paid for within 3 months and the Auditors have to certify that in their report then maybe things would work out better. But then again will that be practically possible to execute? Until we as a notion decide to become just, honest and law abiding no legislation whatsoever will work. The moment a rule is brought out the first thing we look for is loopholes on how to circumvent the need to adhere to the same. This mentality has to change then only life will become easier and tension free. Till such time these cat and mouse games will continue to haunt us. worst part is that it is the big business houses who cause all the hardships for all as they have the money and muscle power to do as they like. Until there is a change in the mindset we are all doomed to lead miserable working life. more
Sep 21
Yours is a sane voice, Umesh ji.
Few days ago, I had said roughly the same thing in these pages. Do you want Government babus poring over your accounts to check if you have received payment or not? This will be a complete nightmare and prone to misuse both from the Government as well as the seller's point of view.
Secondly, was there such a provision earlier in Central Excise, Service Tax or VAT that the taxes are payable only once the seller gets payment from his customer? If not, why this new-found activism? more
Few days ago, I had said roughly the same thing in these pages. Do you want Government babus poring over your accounts to check if you have received payment or not? This will be a complete nightmare and prone to misuse both from the Government as well as the seller's point of view.
Secondly, was there such a provision earlier in Central Excise, Service Tax or VAT that the taxes are payable only once the seller gets payment from his customer? If not, why this new-found activism? more
Sep 21
Dear Satya Aggarwal, GST is to be paid by all sellers on or before 20th of succeeding month.That means Tax due on sales invoices of Sept 2017 is to be paid on 20th OCT 2017.The tax is to be paid whether the buyer pays or not. For the buyer he can take input on the Tax claimed by seller and offset that ITC against his TAx liability.However if the buyer is not paying to the seller,within 180 days,the ITC claimed has to be reversed. This is the GST provisions. Hope it is clear.In case of doubt please refer again more
Sep 20
Though govt. claims that GST is one time-one place tax to remove duplications or concealments. But,it is totally failing to spot the right place to add GST? Why gst is not made a part of PRINTED MSP/MAXIMUM SELLING PRICE ITSELF to avoid all complications and calculations or multi depositions. Just manufacturers/main packers will be controlled to pay on MRP /MSP itself.It will bring everything clear as many write MRP about double of actual selling value to cheat. But,We are in a one-way govt. which shows documents but in DARK ONLY. more
Sep 20
