In a dramatic yet appealing suggestion made by the Institute of Chartered Accountants of India (ICAI) to the finance minister, the total came out to be 121 suggestions.
The suggestions stated that all the goods which are out of the GST ambit currently including petroleum, electricity etc, are required to be brought under the GST as soon as possible.
They also noted down that the laws applicable on these non-GST items must be annulled so that it makes way for the GST on them.
While asking for bringing non-GST items into the ambit of GST, the ICAI also suggested that the laws and compliances related to GST must also be reviewed and simplified in accordance with the skill level of Indian businessman community.
There were also some words related to the GSTN helpdesk responsiveness, well execution of system integration and testing of GST modules, as the ICAI was emphasized on pacifying these activities.
According to the statement of the accounting body, Job work‘ means any treatment undertaken by a person on goods belonging to another registered person. “By this, it appears to cover any repair, maintenance, etc. A provision must be inserted to the definition of ‘Job Work’ to say it will not include repair or maintenance.”
The suggestions also included ‘classification and exemption’, ‘scope of supply’, composite and mixed supply‘, composition levy’, tax invoice, IGST levy and collection, etc.
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