GST returns for small businesses not simplified
Simplification of GST returns for Small Businesses:
Hearty congratulations to PM and FM and G.S.T Council on looking into difficulties of Trade and Commerce especially of Small businesses.
But the return forms simplification for small businesses especially GSTR-2, wherein every body has to intimate his total expenses item wise and with voucher no. reconciliations etc if they are from registered dealers.
Small businesses who are eligible under Presumptive taxation under Income Tax are hitherto not maintaining full-fledged set of books of accounts. For them it is really addl. burden to figure out the details in these returns.
In similar lines to simplified returns which are provided under IT Act, the G.S.T council shall consider simplification of returns for Small businesses as Composition scheme is not advantages to small businesses those who are dealing with B to B transactions. Because for big businesses no input credit will be there for the composition tax paid by these small businesses, accordingly they are pressurizing the small businesses to go for regular G.S.T registration. This is forcing small businesses to run their business with addl. burden of maintaining records for G.S.T and for G.S.T returns. more
Hearty congratulations to PM and FM and G.S.T Council on looking into difficulties of Trade and Commerce especially of Small businesses.
But the return forms simplification for small businesses especially GSTR-2, wherein every body has to intimate his total expenses item wise and with voucher no. reconciliations etc if they are from registered dealers.
Small businesses who are eligible under Presumptive taxation under Income Tax are hitherto not maintaining full-fledged set of books of accounts. For them it is really addl. burden to figure out the details in these returns.
In similar lines to simplified returns which are provided under IT Act, the G.S.T council shall consider simplification of returns for Small businesses as Composition scheme is not advantages to small businesses those who are dealing with B to B transactions. Because for big businesses no input credit will be there for the composition tax paid by these small businesses, accordingly they are pressurizing the small businesses to go for regular G.S.T registration. This is forcing small businesses to run their business with addl. burden of maintaining records for G.S.T and for G.S.T returns. more
Viewed by 1456
View all 13 comments Below 13 comments
All G.S.T Return filers who attempted to file GSTR-2 might have experienced the complexity of the returns. It is high time that all the circle members and citizens should highlight the issue and pressurize the Government to come forward with simplified G.S.T returns to S.M.Es. My suggestion is filing GSTR-3B returns monthly and all other returns/data should be filed only annually, so that S.M.E.s should concentrate on their business rather than wasting their time in Tax compliance. Let large assesses who can afford E.R.P.s, can file the present set of G.S.T returns. At least now the Government should listen the genuine demands of SMEs and announce suspension of present set of G.S.T.R.s immediately. more
Oct 24
On the one hand, Govt says: One tax,One Nation Plus so called encouragement to Start ups, But on the other hand compliance part is made extremely prohibitive especially for small/MSME sector. Also why a small Trader with Inter state Turnover of even One Rupee/ E Comm Goods Trader have to Register under GST? Why cann't the Rs 20 Lacs threshold be made similar to them as well the way they have done recently for Service Providers? Why Quarterly return for small traders has not been done wef July 17 only instead of Oct 17? more
Oct 10
There is continuous non cooperation in the Business Sector since Demonetization and increasingly stepping up from GST . more
Oct 09
I have purchased a hand cutting tool in its cost the shopowner added 9% state gst and 9% central gst and somewhat a Rs.300 extra over the MRP. well and good. whether the retailer already added in his cost the GST he paid from the dealer/ stockist? If the dealer added this GST in his cost from the manufacturer, then I am paying more than 50% of MRP. the government atlast stolen the common peoples money. whether the small businessman get returns or not the ultimate sufferrer is common people ? who have no earning or job oppurtunities around Indian states. if I made aservice some work to a company , I had to pay GST for deploying this machine. If the company pays me , I have to pay income tax. what the government did for me. It protects me from enemies. (BORDER). It provided roads for that petrol iam paying GST, if any repairs and maintainance for that I am paying GST, TOLL taxes? for permitting me to live in India, and to give an aadaar card, the govt is taking Rs 400 daily in the name of taxes- for food, for the consumable goods, in transport, if I earn Rs.1000 daily. more
Oct 09
The exemptions , relaxations shall not lead to concealed income / wealth of the Traders and shall be set keeping in view , the Taxable Income . more
Oct 09
