Delhi’s deputy chief minister Manish Sisodia managed the finance portfolio. In the meeting through his representatives of the market unions who had thanked the government for passing the GST amendment bill 2021, in Delhi assembly. As per the government, the bill is aimed at simplifying the tax filing process which leads to strong accountability and minimizing room for tax evasions.
“The Delhi government keeps taking suggestions from traders of Delhi from time to time and makes its policies based on that. The doors of the government are always open to traders and they can provide their suggestions any time, Sisodia told traders.”
The most important key specifications for the GST amendment bill is the elimination of the need for the important filing of the audited yearly accounts and the reconciliation statements of the enrolled assessee, which had before made traders reliant on chartered and cost accountants.
Moreover, in the case of the delay, seizure of goods, etc. the goods shall be released on the payment of the penalty with respect to the before furnishing of the tax along with the penalty.
Rakesh Gupta CA and tax experts who were present in the meeting through the deputy chief minister commented that “Lakhs of traders will benefit greatly from the bill, a positive consensus can be noticed among traders,”
The performance of the business is noted down in the yearly form by furnishing the annual return. One of the important features of the GST revision is the elimination of the need for the compulsory filing of the audited yearly annual accounts of the enrolled assessee.
The traders have welcomed the GST revision of the bill which is being implemented through Delhi’s deputy chief minister Manish Sisodia. It is done to make the business filing easier so that there is no sought problem that occurs in filing the yearly return.
