The GST is approaching at a very fast pace and there are only 20 or fewer days left to tackle the issues which the traders are facing currently. According to the provisions, a taxpaying entity must be registered under GST if the turnover crosses the threshold limit of 20 lakh but there are very shortfalls on this point.
There is a lack of awareness on the GST while there is an issue regarding the lack of computer knowledge prevailing in the trader’s community. There are approximately 6 crores of small taxpayers and if talked about Delhi alone, there are lakhs of small taxpayers in the region. There is a deep lack of knowledge on the topic of GST while the government must take note of awareness campaign as soon as possible.
Currently, there are some major issues which need some attention:
- Lack of knowledge regarding issues of GST
- The GST will be demanding an overall online infrastructure and the maintenance of the accounting books is also depending on the online format, this issue remains problematic as many traders are not capable of running the computer on a high-proficiency basis
- The ratio remains as high as 60 percent in which the traders doesn’t know how to use the computers for the process of GST returns
- The number of returns has been raised to 3 per month which was earlier one return per 3 months, this drastic change has kept the trader’s community in tension for a while
- There has been an issue with the local wholesale traders as making the input of each and every product into the computer database is very hectic
- The taxation related to the GST is very little known about from the perspective of traders community
- The market is at the lowest mark as the pre-GST effects are prevailing in the market
- The taxation rate on each item is different which is making the issue as the categorization of the products is very hard
- There is a penalty provision in case any traders fills out wrong input entries, this issue is problematic as the traders don’t even know about the GST return than the wrong entry is inevitable
- The impact of GST is not known till now, and the trader’s community is in fear of any losses regarding the implementation of the GST
Dealers Making Zero Error Refrained From Further Filings
The continuing errors and technical issues on the GST portal further increase problems for businesses making it difficult to file correct GST returns before the deadlines. One of the most common errors being faced by GST filers is of ‘0’ digit. Many businesses have wrongly added extra ‘zero’ or sometimes missed one while filing their GST return and tax liability online. Since the entries and data are saved instantly in the GSTR and cannot be modified once submitted, many businesses have filed wrong returns. Furthermore, such dealers are unable to file their next month returns until their previous invalid entries are corrected.
Medical dealer Brajesh Gupta, while filing his December month GSTR 3B return online, reportedly added one extra ‘zero’ when entering his payable tax liability, which originally was 7000 rs. The data got saved instantly. Even after trying for hours, he did not succeed in changing it. Even the authority could not help. This is not the first instance. The same issue is faced by hundreds of GST taxpayers.
Guru , what about the Traders, Service Provider or Manufacturing Units , who had not obtained or to whom Not Applicable till date, any VAT, EXCISE, SERVICE TAX number, for them what will be position to take credit of Taxes paid on stock holding as on 30.6.2017 . When they have to apply for GST Registration . These Traders, Small Mfg. ,Service Providers count much in India but no relevance vis given in GST. Please elaborate.
The assessee which are not registered under VAT, Excise,Service Tax can take credit of input tax on stock holding on 30.6.2017 if they get registration under GST. They can apply for new registration after implementation of GST.