Friendly GST Provisions For A Tax Payer

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Friendly GST Provisions For A Tax Payer
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• The GST Law was implemented from 01st of July
  2017 after subsuming several taxes and levies.
  About 17 laws such as central excise law, service
  tax law, value added tax, entertainment tax etc.
  were subsumed. The GST Law is going to prove to
  be very beneficial for an Honest Taxpayer. The
  GST Law is friendly and boon for a Taxpayer
  because 1. Minimum compliance after introduction
  of GST Law 2. Minimum compliance cost as compare
  to cost being incurred in erstwhile law 3. Zero
  litigation under the GST for an honest taxpayer
  The GST Law do not believe in litigation. The
  provisions of the GST Law are such that before
  initiating any proceedings the GST Law give
  chance to the tax payer to rectify the same. If
  the Taxpayer rectifies/amends any discrepancy suo
  moto or rectifies/amends the mistake as informed
  through the notice received from the GST
  Authority, the notice issued is dropped
  automatically without taking any further
  action.

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• Analysis in account of friendly provisions of the
  GST Law is as under
• Registration 1. No Fee for the Application for
  Registration
• 2. The Registration Application shall have to
  dispose off within seven working days from the
  date of filing of registration.
• 3. No physical verification except in doubtful
  cases, is required before granting registration.
• 4. Grant of Registration shall be deemed to be
  grant of registration if the application for
  registration has not been rejected within time
  specified under section 25(10) of the Act.
  Registration Amendment
• 1. No Fee for Application for amendment of
  registration
• 2. Amendment in regard to any particulars other
  than change in legal name of the business, change
  in principal place of business, additional place
  of business or change relating to partners or
  directors, Karta, Managing Committee, Board of
  Trustees, Chief Executive Officer, shall stand
  amended upon submission of the application in
  FORM GST REG-14 on the common portal. No
  interference is allowed to the GST Officer for
  such amendments.

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• 3. The Officer shall have to dispose off
  amendment application within 15 days from the
  date of submission of amendment application and
  within seven days from the date of receipt of the
  reply to notice issued in regard to amendment
  application. 4. If the officer fails to take any
  action on application for amendment for
  registration or after receiving reply to the
  notice within stipulated period stated under rule
  19 CGST, the certificate of registration shall
  stand amended to the extent applied for and the
  amended certificate shall be made available to
  the registered person on the common portal.
  Application for Cancellation of Registration

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• No fee for Application for cancellation of
  registration
• The proper officer shall drop the proceedings on
  receiving satisfactory reply to the notice for
  cancellation of registration.
• If notice for cancellation of registration was
  issued due to non filing of returns, then if all
  returns are furnished with tax, interest and late
  fee, the proper officer shall drop the
  proceedings. No reply from the person concern
  shall be required in this case. Order Cancelling
  the Registration 1. The facility to file the
  application for revocation of cancellation of the
  registration is available if cancellation of
  registration was done by the GST Officer. No need
  to file the appeal.
• GST Returns
• 1. GST return may be filed at any time and from
  anywhere.
• 2. Signature on the return may be done from
  anywhere through EVC mode.
• 3. Hard copy of the return is not required to be
  submitted as was happened in the VAT regime.
• 4. GST Return will be blocked if the previous
  return was not filed. If GSTR-1 Oct Month was not
  filed, the return GSTR-3B Oct month will be
  blocked to file. It will be unblocked immediately
  after filing GSTR-1 Oct month. This practice will
  stop unscrupulous persons in the business
  society. The honest taxpayer shall be benefitted
  and saved from such persons who filed only GSTR-1
  but were not filing GSTR-3B.

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• Auto Self-Generated Returns 1. GSTR-1 will be
  auto generated return on the basis of e-invoices
  issued and eway bills issued. The Taxpayer shall
  have to fill other details which are not linked
  with e-invoice portal and eway bills portal. 2.
  GSTR-3B will also be auto generated return.
  Outward Supply figures will be auto populated
  from the GSTR-1 and Input Tax Credit figures will
  also be auto populated from the GSTR-2B. The
  Taxpayer shall have to check only the auto
  populated GSTR-3B return. The return shall be
  filed after incorporating the details which are
  not auto populated and edit those figures which
  may be required. E-Way Bills
• 1. For supply of goods e-way bill may be issued
  by any person i.e.Supplier or Recipient or
  Transporter.
• 2. The E-Way bill portal provides auto details to
  be filled in the e-way bill. Such as name and
  address of the recipient after just filling of
  GSTIN of the recipient, distance where to goods
  to be dispatched after filing pincode etc. .
• 3. The detained goods may be released before
  final order subject to payment of penalty or
  furnishing of the security bond.Read more
  at https//taxguru.in/goods-and-service-tax/frien
  dly-gst-provisions-tax-payer.htmlCopyright
  Taxguru.in

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• E-Way Bills
• 1. For supply of goods e-way bill may be issued
  by any person i.e.Supplier or Recipient or
  Transporter.
• 2. The E-Way bill portal provides auto details
  to be filled in the e-way bill. Such as name and
  address of the recipient after just filling of
  GSTIN of the recipient, distance where to goods
  to be dispatched after filing pincode etc. .
• 3. The detained goods may be released before
  final order subject to payment of penalty or
  furnishing of the security bond. Input Tax
  Credits 1. The GST Authority is providing inward
  supply details through GSTR-2B every month. By
  virtue of this Form GSTR-2B it has become easy to
  a Taxpayer to avail correct input tax credit and
  fulfill the conditions stated under section 16(2)
  of CGST Act.
• The GSTR-2B is enabling the taxpayer

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• 1.1 To match the inward supplies
• 1.2 The inadvertent mistakes may be rectified
  within reasonable time
• 1.3 To fulfill the condition enumerated under
  section 16(2)(aa)
• 1.4 To provide the details of such input tax
  credit which are restricted under section 38
• 1.5 To know the status of the supplier whether he
  has filed returns or not and
• 1.6 To verify the credibility of his supplier.
  NOTICES and ASSESSMENTS GST Assessment is based
  on self-assessed. No assessment is regularly
  required on time bound basis as was done in
  erstwhile law of VAT. If any discrepancy is come
  to the notice of the GST Authority, the GST
  Authority give opportunity by issuing a notice
  for rectifying the same. If the taxpayer has
  rectified the mistake by paying additional
  payment of tax, interest and penalty or by filing
  satisfactory reply then the notice shall be
  dropped without taking any further action. If no
  satisfactory response is come from the taxpayer,
  then relevant action may be taken under the
  law.

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• The GST Law do not believe in litigation. In
  every case the opportunity is given under the law
  to rectify the same before taking any action.
  Here, we shall discuss how notices issued are
  friendly under the GST Law. Section 61 (Scrutiny
  of returns) Sub-section (2) In case the
  explanation is found acceptable, the registered
  person shall be informed accordingly and no
  further action shall be taken in this regard.
  Section 62 (Assessment of non-filers of returns)
  Sub-section (2) Where the registered person
  furnishes a valid return within thirty days of
  the service of the assessment order under
  sub-section (1), the said assessment order shall
  be deemed to have been withdrawn Section 73
  (Determination of tax not paid or short paid or
  erroneously refunded or input tax credit wrongly
  availed or utilised for any reason other than
  fraud or any wilful-misstatement or suppression
  of facts) Sub-section (5) The person
  chargeable with tax may, before service of notice
  under sub-section (1) or, as the case may be, the
  statement under sub-section (3), pay the amount
  of tax along with interest payable thereon under
  section 50 on the basis of his own ascertainment
  of such tax or the tax as ascertained by the
  proper officer and inform the proper officer in
  writing of such payment.Read more
  at https//taxguru.in/goods-and-service-tax/frien
  dly-gst-provisions-tax-payer.htmlCopyright
  Taxguru.in