Indore: Accepting the suggestions given by Ahilya Chamber of Commerce and Industries (ACCI), an Indore-based traders’ organisation, Prime Minister Narendra Modi has directed finance secretary Hasmukh Adhia to make necessary corrections in compliance of Goods and Service Tax (GST) and make provisions which would allow traders to file GST returns quarterly and pay taxes on monthly basis.
Influence of the state’s financial capital on national economy became evident, when Prime Minister Office (PMO) informed general secretary of the ACCI Sushil Sureka that taking cognisance of his suggestions; the PM had asked finance secretary Adhia to act accordingly. Section officer at PMO, Rajiv Ranjan Kushwaha further informed Sureka that apart from informing him separately about the actions taken on his suggestions by the finance secretary, the same will also be uploaded on GSTN portal soon.
Talking to this correspondent Sureka confirmed about receiving a letter from PMO, which stated that the finance secretary was asked to take appropriate action on his suggestions. Sureka, who is also one of the architects of MP VAT Act, has in depth knowledge on GST and also, the complexity being faced by traders in carrying out the compliance. Sureka said that he had handed over the letter of suggestions made by the chamber to a very high ranking officer, who is also personally very close to PM Modi and the official had successfully delivered the letter directly to the PM.
Commenting on the complexities in GST compliance, Surekha said “Traders do want to support and follow the GST, but procedural complexities was spoiling their charm towards new indirect regime.”
He further expressed hope that “If the GST council indeed undertakes necessary changes, then about 80 per cent problems of compliance would automatically be sorted out. The rest 20 per cent woes are associated with software and server of the GSTN, for which the chamber has put forward some vital suggestions as well.”
All returns to be made quarterly with monthly payments above certain limit of tax
Instead of bill wise details, only party wise details must be filled in returns. This was working smoothly in VAT
No penalties on delays due to faulty working of GSTN
No GST on advance payments
No RCM till all other systems are put in place and return filling becomes absolutely smooth
All items under one HSN chapter (with same first two digits) to be taxed at one rate only
Rectification of errors must be allowed in all returns
Slab of 28% is too high. All items in this slab should be brought down to 18%