GST – Issues & Enhancements!!

Grievance Redressal Committee comprising of Chief Commissioner, CGST, IAS, Commissioner, SGST and other senior Departmental Officers discussed the following points –

1. Interest should be calculated on on cash component only u/s 50(1) of CGST / SGST Act, 2017 and liability should also be generated accordingly. Provision should be made effective from the date of implementation of the Act.

2. Unblocking of ITC immediately in case figures are reconciled.                                                                              Further, blocking if required should be made after giving notice to the dealer.

3. Problems and Issues in GST Annual Return for the year 2018 – 19 should be simplified from Approach and design perspective.

4. GST returns in new format can also look to be deferred to a date ahead for smoother transition.

5. Reconciliation statement in form 9C may kindly be merged with form 9.

However, no final decision is taken on the same as we look to hear more from the GST Council in next few days.

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