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GST Committee Report on Refunds

GST Committee Report on Refunds
Start Date :
Oct 12, 2015
Last Date :
Nov 16, 2015
00:00 AM IST (GMT +5.30 Hrs)
Submission Closed

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State ...

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State level. The proposed dual GST envisages taxation of the same taxable event, i.e., supply of goods and services, simultaneously by both the Centre and the States.

The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, has been introduced in the Parliament for facilitating the introduction of GST in the country. Simultaneously, committees comprising of officers from the Central Government, as well as the State Governments, have been constituted for the drafting of Model CGST, SGST and IGST laws, and GST business processes of registration, refunds, returns and payments.

The draft Model CGST, SGST and IGST laws, along with GST business processes for filing of returns, shall be put up for inviting comments of stakeholders in due course. Presently, the draft business processes on GST registration, GST refunds and GST payments are being published.

The Report of the Committee on GST Refunds is available here. Comments and views are invited on these business processes by 31st October, 2015. Users are requested to keep in mind the guidelines for posting their comments:

1. Please use the following hashtags for commenting on the report:
a. #GSTRefunds: for general comments.
b. #GSTRefundSituations: for comments on situations where refunds would arise
c. #GSTRefundForms: for comments on proposed Refund Forms

2. Please restrict your comments to 500 characters. In case your comments exceed this limit, please upload your comments as a pdf document.

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Showing 218 Submission(s)
Advice India
Advice India 10 years 9 months ago
#GSTRef A simple way for huge success is online invoicing for every sale for those turnover is 50lacs. every sale invoice reflact in buyers gst profile and auto minus in tax liability of buyers. buyers also knowledge when any sale invoice generated by any 1. all govt officer duty on roads for catching up consignment without invoice and declare govt goods no case no FiR
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Advice India
Advice India 10 years 9 months ago
#GSTRef: I think in gst every one will payer no one will claim refund but govt should attach a bank account with gst for payment and refund of gst and also for business purpose like sale and purchase payment
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David Mathew
David Mathew 10 years 9 months ago
Once the GST start rolling,the positive side of business enhancement expected all over India.The book keeping of a seller is absolute necessary to keep their audit receipts or electronic journal as a mandatory requirement.if there is a malpractice it could be detect very easily with few ELECTRONIC REGISTER SYSTEMS.The ministry of finance must notify merchant/business community of the GST being collected from customers.In the receipt the merchant valid GST number must be printed.follows subtotal
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SARJU KALARIA
SARJU KALARIA 10 years 9 months ago
#GST Reporting of Sales should be made through small app from mobile where a person can fill basic details from his mobile and report the sale and details of sale by app from his mobile or computer on daily basis and there should be no need to file a monthly return sales are reported as when it happens on day to day basis all invoices should have a acknowledgement no sales reported since there is no verification so no staff will be required to monitor the system .. GOI doesn't monitor bank a/c
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SARJU KALARIA
SARJU KALARIA 10 years 9 months ago
#GST Banking system should be used to operate the GST account when a seller files a sales return in bank the account of buyer gets credited without buyer filing a return so all assesses need to file only the sales return .... the purchase return is automatically generated from the sales return of suppliers .. the bank account doesn't have cheque facility so no money can be drawn from it ... the sales with no GST no of buyer gets deposited in GOI treasury there will be no hassles of tax credit
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SARJU KALARIA
SARJU KALARIA 10 years 9 months ago
#GST structure would work like RTGS system .... Seller files a return for his sales .... The buyer of goods files the return for his purchase .... which means there is duplication of work on large scale where department is just tallying the entries .... so a system should be made where only returns for sales has to filed .... when you file sales return the tax credit goes to buyers account without buyer filing a return based on tax return filed by seller... so credit is unique no misuse
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Jaiprakash Ruia
Jaiprakash Ruia 10 years 9 months ago
Use of various incentive licenses and scripts issued under FTP 2009-2014 & 2015-2020 is not allowed in business process for payment (as understood) then how these will be utilized because there is not option for the same in business process for refund also.
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