CA Umesh Sharma

Arjuna (Fictional Character): Krishna, Ganapati is coming in this week. But because of GST there is hustle bustle everywhere. What the Ganapati Bappa would do?

Krishna (Fictional Character): Arjuna, one name of Ganapati is “Vighnaharta” also. He solves the problems of everyone. Similarly, he will help taxpayers to solve problems relating to GST.

Arjuna: Krishna, What care the taxpayer should take at the time of filing of first return of GST?

Krishna: Arjuna, In GST, monthly return has to file. In last month itself GST has been applicable. So, in case of normal dealers, the first return is to be filed in this August month. As the Government has introduced the concept of summary return, everyone have to file form GSTR-3B in this month. For this 20th August was the last date but now it is extended to 25th of August i.e Ganesh Chaturthi. The form GST TRAN-01 of transition is to be filed by 28th day of the month. From the next month, taxpayers have to file Form GSTR-1. It is important to give true and correct information in all these forms.

GST with Ganesha

Arjuna: Krishna, What are the difficulties, which would arise at the time of filing of GST return?

Krishna: Arjuna, certain difficulties would arise at the time of filing of GST return, as this Act is new. Like-

1) The biggest difficulty is GSTN i.e site of GST. Because payment window is not responding. It is becoming hang for so many time. That is why the date of returns as well as payment is extended.

2) The date of filing of form GST TRAN-01 is 28th of the month. So there are only 8 days to file that form.

3) There are so many provisions relating to RCM. Every taxpayer has to follow the restrictions which are levied on the purchases from unregistered dealer. In case the tax on purchase is to be paid under RCM basis, then the amount of tax has to be paid first and then ITC on it will be allowed.

4) The monthly returns filed can not be revised. For that, taxpayers have to wait till the next month.

5) Reflection of payment made by taxpayer in electronic ledger is taking time of 1 or 2 days also.

6) Every month the books of accounts should be updated and have to prepare profit and loss account and balance sheet.

Arjuna: Krishna, what precautions to be taken to avoid all these circumstances?

Krishna: Arjuna, it is very important to have the habit of any thing. It is necessary to keep corrected monthly record by every taxpayer. They should be habitual for that. First time, the monthly returns to be filed. For this, every taxpayer should keep and maintain true and fair monthly records. They have to give correct information of sales and purchase of the month.

Arjuna: Krishna, what lesson the taxpayer should take from this?

Krishna: Arjuna, Vighnaharta will remove the vighnas under the GST Act but for this the taxpayers have to gain the knowledge of GST.  Similarly the tax officers should remove the difficulties on the GSTN on time.

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