The proposed amendments in CGST Act, 2017, IGST Act, 2017 and the GST (Compensation to States) Act, 2017 are now placed in the public domain.
There is about 46 amendments, mostly law related and in nature of clarifications or correcting drafting errors in earlier law, at some places tax base is extended whereas for some areas it is an attempt to make the law more user friendly like facility to amend/revise return, manufacturer/trader with service upto 10% of turnover or 5 Lacs can also opt for composition scheme. ITC negative list to be reduced, ease of debit/credit notes, cancellation of registration etc.
However many pain areas have not been considered like RCM on URD (Even it is proposed that 9(4) would be applicable only for notified taxpayers in this amendments list), Payment mode to increase, To allow to deposit tax in one common head etc. Learned that on some such issues Council is already working.
You may submit your comments/feedback on the draft proposals for amendments ( https://static.mygov.in/rest/s3fs-public/mygov_153120546651553221.pdf ) in #GST law here:
No comments:
Post a Comment