Goods and services tax is now half a year old and still demanding necessary changes to be implemented as soon as possible according to the advisory group of GST which is activated for the vigilance for any differences and demands of GST accordingly. It is stated that the advisory group has sought for certain changes in the newly implemented goods and services tax in order to implement simple procedure and making automatic refunds of taxes.
The CAIT General Secretary and member of the panel Praveen Khandelwal stated this fact and also mentioned that the six-member panel which was set up recently in the last month has already recommended around 100 suggestions to the GST council for advancement in procedures and compliance. The suggestions given by the panel included that the refund process should be done automated by the use of technological methods while at the same time it should be rational and simple.
Apart from it, there should be a revision in returns allowed along with a creation of National Advance Ruling Authority. He also stated that the panel received more than 700 presentations over the issues related to return filing, input tax credit, exports returns and refunds and return filing in the industry. The panel suggested that the GST e waybill should be postponed till 2019 in order to bring some clarity in the procedure and till then some other alternative method can be used for the transports and logistics.
