Moneycontrol
Last Updated : Jan 11, 2018 07:29 PM IST | Source: CNBC-TV18

Will GST council simplify returns filling process at January 18 meeting?

The next meeting of the GST council, the supreme decision making body as far as the new indirect tax regime is concerned is scheduled to be held on the January 18 and ahead of that, council officials are in a huddle, looking at various recommendations proposed by the returns committee, the law committee and the handicrafts committee.

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The next meeting of the GST council, the supreme decision making body as far as the new indirect tax regime is concerned is scheduled to be held on the January 18 and ahead of that, council officials are in a huddle,  looking at various recommendations proposed by the returns committee, the law committee and the handicrafts committee.

CNBC-TV18, learns that the returns committee has proposed that the GST returns filing process be simplified. They have suggested that the council combine the three different returns form into one.

The law review committee, we learn has urged that the council make it easier for taxpayers to claim refund. Both centre and states are readying proposals to amend the current GST laws--- these amendments are likely to simplify return filing process and tweaks to the composition scheme and the reverse charge mechanism.

The handicrafts panel has recommended that the definition of handicraft be changed in order to bring more items in the category.

CNBC-TV18's Shereen Bhan caught up with Mauvin Godinho Member, GST Council Goa, Rohan Shah Tax Expert, MS Mani Partner- GST Deloitte and Pratik Jain Partner- PwC to discuss these recommendations.

Watch video for more…..
First Published on Jan 11, 2018 06:42 pm

tags #Economy

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