New GST registration denial have a serious impact on our economy

GST – New Registration Niggles, Impact & Road Map ahead!

There have been numerous frivolous questions recently posed by officials involved when businesspeople are applying for GST Number registration. There are a few instances below.

1. Sponsors – Residential Address – Others. 1. (Please specify) – LATITUDE AND LONGITUDE PROVIDE DETAIL: There is, indeed, no facilities available on the GST site for the personal address of the partners to input such latitude and longitude when applying to register.

2. Authorized Representative – Authorized representative – Others (specify please) – Details ALL WITH ENROLMENT ID. In other circumstances, this question was posed, even if the applicant clearly chose No against an authorised representative.

3. Aadhaar Authentication – E-KYC Documents – Aadhaar Authentication Status. Give E-KYC physicians to someone who has failed or has not tried authentication: The fact is that in some circumstances, even though the applicant had already completed the authentication of aadhar through OTP, this question was presented.

4. Business details – Your Business details – other information (Please specify) – CERTIFICATE UPLOAD SHOP OR MSME CERCIPHICATE OR ANY OTHER BUSINESS PROOF. In fact, before applying for GST registration in accordance with the legal provisions provided for in the GST Act, such registration does not need to exist.

[pt_view id=”c8bb8e9z6d”]

5. Authorized representative – Authorized representative – other representatives authorised representatives (Please specify) – CHILDREN PROVIDE REPRESENTATIVE DETAILS OF CA DETAILS (NAME, MEMBERSHIP NUMBER, OFFICE ADDRESS ETC.) SELF ATTED COPY OF IDENTITY Proof and Registry Number With Proof Application LETTER, SELF ATTESTED

6. Main business location – address – other business location (Please specify) – RUNNING OR PRESENT DOWNER AND GSTN NUMBER ITS FIRM NAME AND GSTN DOWN PLEASE DESCRIBE ANY

7. Main business centre – Ownership nature – Others (Please specify) – UPLOAD CLEAR, FULL RENT and ADHAR CARD, UPLOAD LEGAL OWNERSHIP PROOF OF PROPERTY LATEST INDEX COPY, LATEST TAX BILL COPY, AADHAR Cards. – All of the LED ATTACHMents and PAN cards. In fact, for such essential papers, the GST portal allows only 100 KB up to 1 MB and demands very high-resolution uploads at the same time.

8. Goods and services – Goods details – Goods details – state how long you or any other individual have been in this business for many years. If another person describes the relationship with this individual and his or her UPLOAD KYC WITH PHOTOGRAPH and has more to decide which merchants you are going to acquire, and to whom you are going to sell them? Describe the name and GST number of two or three parties. The fact is that no information is necessary to obtain the GST registration in accordance with the GST Act.

These are just a few of the silly questions. For additional such queries, you can search social media or any tax professional should have noticed these questions in what app group talks today as well.

Our economy may have a negative impact as country’s “ease of doing business” position could be reduced due to such barriers to simply registering taxes.

What should the GST Council do quickly?

1. In the case of multiple pages documents such as partnership deed, rental deed, etc., and up to 2 MB, permitted documentation to be uploaded in order to make the GST registration available must be increased to at least 5 MB. 1.

2. Website arrangement must be done in a manner that the official cannot generate any queries on that point at all if the authorised representative tab is responded “No” by the application.

3. The arrangement must be created on the website in such a way that the applicant cannot generate an inquiry at that stage if the aadhar authentication is carried out successfully by the applicant.

The deadline for filing tax returns extended to December 31.

4. Draft and include in the system a standard query list. Approval must be granted at least at the level of the Assistant Commissioner for any question made by officers beyond the usual list. It will lead to a more adequate task fixing and will assist avoid asking for certain unnecessary concerns.

5. In the issuance of such registrations it should also continue to attempt to control the possible corruption and guarantee that real registrations are provided without undue delay or harassment.

Not just decorative phrases must be “Ease of Business” and “Minimum Government Highest Governance.”

Introducing Online GST Refund Process in 2019 by GSTN

The GST Network (GSTN) has introduced an online GST refund process, as decided by the 37th GST Council. With this process, taxpayers will easily be able to file refund through form RFD 01, which can further be processed online by the GST officers. The online refund system is into effect from September 25, 2019, on the GST portal.

Major Points:

  • Taxpayers can now file refund application (in RFD 01 form) easily and tax officers can execute it online
  • All communications between taxpayers and tax officers will be online as well

GST Refund Process Of Previous Years

Till now, the refund processing for the Central GST (CGST) and State GST (SGST) was done by a single tax personal to whom the taxpayer was assigned administratively. However, the disbursement for this was done by different accounting authorities of central and state tax departments respectively. This makes a delay of sharing sanction order between accounting personals, before the GST refund could be processed to the applicant.

GSTN Refund Process 2019

The new GST refund system launched by GSTN has done away with multiple accounting authorities for sanctioning the disbursement of the refund amount. Under new refund system, when the tax officer completes processing, the sanctioned amount will get credited to the bank account of the Taxpayer through Public Fund Management System (PFMS). The new system is being introduced to provide a boost to the disbursement speed of refunds and also improve the GST compliance, hence making refund a seamless experience for the taxpayer as well as the tax officer.

However, it may be noted that all refund applications filed before September 26, 2019, will be processed manually as done under the old refund process.

Features Of The New GST Refund System

The unique features of the new refund system launched by GSTN are as below:

  • Single Authority based refund system
  • Stage-by-Stage tracking of the GST Refund process
  • SMS and Email Updates for Important stages
  • Online Reply Utility for Notices

Digitization Making GST Refund Process Simpler In The Coming Days

After-April 2020, with the enrolment of new GST returns, the taxpayer will be able to auto-populate the GST refund details from his sales records. These auto-populated fields will be derived from taxpayers ‘refund from sales to SEZ and Deemed Exports’ and ‘refund from sales to B2B, Exports and B2C’ records.

If the field for a refund from sales to SEZ and Deemed Exports is populated indicated ‘Yes’, the supplier will get the refund from such transactions else SEZ/Deemed Exporter.

Similarly, in case of transactions other than SEZ and Deemed Exports, if the document to be auto-populated to GST refunds is Yes then values will be auto-populated in refund form.

Contact us or email us at [email protected] in case of any queries related to GST registration.

Monthly GST accumulations below potential amid economic slowdown

Goods and services tax (GST) accumulations broke the Rs 1-lakh crore mark in July 2019 when discussion on the economic showness is erupting. At Rs 1.02 lakh crore, GST accumulations rose 6 percent and 2 percent, separately compared with the figures in July 2018 and June 2019. However, Rating organization Crisil recently reviewed downwards the gross domestic product(GDP) focus for 2019-20 to 6.9 percent from 7.1 percent prior. All things considered, the monthly GST accumulations crossing the Rs-1 lakh crore in three of the four months of the current fiscal demonstrate talks of economic slowness could be blowing out of the proportion. The monthly average has been Rs 1.04 lakh crore so far compared with Rs 98,114 crore during 2018-19.

So, are rising accumulation figures mirroring the true condition of the economy or featuring a conflicting trend?

The appropriate response lies in government’s budgeted target. The average monthly collection is still lower than Rs 1.06 lakh crore required for meeting the government’s budgeted target for the year for Central and Integrated GST.

Experts believe monthly GST accumulations are rarely touching the Rs-1 lakh crore mark accurately because of the economic slowdown, else the numbers could have been greatly improved.

“Accumulations are floating around Rs 1 lakh crore a month because of the economy slowdown, else it ought to have been more. Since GST depends on the price charged, lower domestic increase and import values would have brought muted accumulations,” MS Mani, senior director, Deloitte India says.

As indicated by him, improved accumulations in the course of the most recent year could be because of an increase in compliance thanks to GST Council occasionally making rates and procedures sensible.

The total number of GSTR 3B returns filed for the month of June up to July 31, 2019 remain at 75.79 lakh contrasted with 74.38 lakh for the month of May up to June 30, 2019. Till September last year the number of returns filers used to be around 67 lakh.

So, while increased compliance may have been pushing GST accumulations past Rs-1 lakh crore mark, the slowdown in the economy is resulting accumulations being much lower than the required Rs 1.06 lakh crore.

As per a Kotak Economic Research report, the required run-rate (normal monthly accumulation) for the rest of 2019-20 is currently around Rs 1.14 lakh crore. At the present run-rate, the government could see a shortfall of Rs 1.8 lakh crore in GST accumulations.

Enquire with Certicom Consulting for more details.