Finally, GST council comes to reality !
> e-way bill postponed for sometime
> Return due date are postponed and simplified single return form is issued for first two months
Still there are many issued to be addressed
- Imports becoming cheaper (that to products which meant for direct sale to market and not used as input for manufacture)
- Vague rules for Reverse charge (reverse charge applicable for all supplies from unregistered suppliers - should i pay GST if we buy tea from a small tea shop ?)
- Complex return mechanism
- Buyer need to run behind the supplier to make him to pay tax to take input credit. Are they tax collection officer ? GST going one step ahead of self assessment mechanism !
- Service sector is suffering big tax impact - increase in rates, increase in compliance, no much benefits
- No centralised registration
- SGST of other state cant be taken credit. The place of supply will be state in which service is provided in some cases. If a chennai company conducts a event in a banglore hotel, then chennai company cant take input credit of the tax paid - because hotel will charge SGST and CGST in those cases.
list goes on by adding industry specific issues ...............