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GST Committee Report on Refunds

GST Committee Report on Refunds
Start Date :
Oct 12, 2015
Last Date :
Nov 16, 2015
00:00 AM IST (GMT +5.30 Hrs)
Submission Closed

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State ...

The Government of India intends to introduce the Goods and Services Tax (GST) in the country at the earliest. GST seeks to subsume many indirect taxes at the Central and State level. The proposed dual GST envisages taxation of the same taxable event, i.e., supply of goods and services, simultaneously by both the Centre and the States.

The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, has been introduced in the Parliament for facilitating the introduction of GST in the country. Simultaneously, committees comprising of officers from the Central Government, as well as the State Governments, have been constituted for the drafting of Model CGST, SGST and IGST laws, and GST business processes of registration, refunds, returns and payments.

The draft Model CGST, SGST and IGST laws, along with GST business processes for filing of returns, shall be put up for inviting comments of stakeholders in due course. Presently, the draft business processes on GST registration, GST refunds and GST payments are being published.

The Report of the Committee on GST Refunds is available here. Comments and views are invited on these business processes by 31st October, 2015. Users are requested to keep in mind the guidelines for posting their comments:

1. Please use the following hashtags for commenting on the report:
a. #GSTRefunds: for general comments.
b. #GSTRefundSituations: for comments on situations where refunds would arise
c. #GSTRefundForms: for comments on proposed Refund Forms

2. Please restrict your comments to 500 characters. In case your comments exceed this limit, please upload your comments as a pdf document.

Showing 218 Submission(s)
SANCHAY KUMAR ROY
SANCHAY KUMAR ROY 9 years 6 months ago

GOODS AND SERVICE TAX IF ANY REFUND AVAILABLE TO ANY BUSINESS CONCERN IT SHOULD BE ON YEAR WISE BASIS AND IT SHOULD BE BASED ON ASSESSMENT YEAR LIKE INCOME TAX. REFUNDS ARE RELATED TO BASED ON ASSESSMENT, SO REQUEST GST RETURN SHOULD BE SUBMITTED ON YEARLY BASIS.DUE DATE OF SUBMISSION OF GST RETURN SHOULD BE 30TH JUNE I.E WITHIN 3 MONTHS OF THE CLOSE OF FINANCIAL YEAR. WE NEED UNIFORM SYSTEM BOTH FOR DIRECT AND INDIRECT TAX. REFUND WILL BE PAID THROUGH BANK ACCOUNT. CMA SANCHAY KUMAR ROY.

SANCHAY KUMAR ROY
SANCHAY KUMAR ROY 9 years 6 months ago

GOODS AND SERVICE TAX IF ANY REFUND AVAILABLE TO ANY BUSINESS CONCERN IT SHOULD BE ON YEAR WISE BASIS AND IT SHOULD BE BASED ON ASSESSMENT YEAR LIKE INCOME TAX. REFUNDS ARE RELATED TO BASED ON ASSESSMENT, SO REQUEST GST RETURN SHOULD BE SUBMITTED ON YEARLY BASIS.DUE DATE OF SUBMISSION OF GST RETURN SHOULD BE 30TH JUNE I.E WITHIN 3 MONTHS OF THE CLOSE OF FINANCIAL YEAR. WE NEED UNIFORM SYSTEM BOTH FOR DIRECT AND INDIRECT TAX. REFUND WILL BE PAID THROUGH BANK ACCOUNT. CMA SANCHAY KUMAR ROY.

premscma@gmail.com
prem kumar 9 years 6 months ago

CMA are playing vital role in Economy development and ensuring Cost effective system of the nation economy.
Cost Accountant - CMA should be recognized at par with CA in GST as well as Direct Taxation.

T K JAGANATHAN
T K JAGANATHAN 9 years 6 months ago

GST refund - Consider and specify similar provision as in Cenvat Credit Rule 3 (5B) i.e ITC reversal on non moving and slow moving items.

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