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TMI BlogSitting on ivory towersX X X X Extracts X X X X X X X X Extracts X X X X ..... Sitting on ivory towers - By: - Bharath Kumar - Goods and Services Tax - GST - Dated:- 13-6-2017 - - The storm of GST is fast approaching and is just twenty days away from the coast of Indian subcontinent. But out of almost 80 lakhs of assessees, I doubt whether atleast 10% of the assessees are prepared to face the GST.In my own case, one company with ₹ 600 crores is still struggling ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to educate their persons and to upload new rate of tax in thousands of commodities.While it is being so, most of the Central and State officers do not even know the basics of GST as this is the kitchadi of Service Tax, Central Excise and VAT. The GST Schedule is the replica of Central Excise Act which diametrically opposite to the simple Schedule of VAT running to just 10 pages in contrast to mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re than 300 pages of GST.Not only with that. We have to go furthur to refer the Heading of Central Excise tariff rates also..These are all new to State officers and it will take years together to understand those complexity of 175 sections of GST Act. .The reverse charge mechanism is new to State officers while disputes of intra state or interstate is new phenomenon to Central officers.The ide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a of issuing notices first by whom is the basis for initiation of revision of assessment by State officer or Central officer as the case may be is most confusing.The dealers and the officers should have clarity to the maximum possible before venturing into implementation of GST. Mr.Arun Jaitly should be patient rather than desperate in fixing the deadline. Unless it is postponed to Septembe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 2017 and meanwhile uninterrupted follow up action in all fronts is made, only God alone can save this country. BY K.Palaniswamy Deputy Commissioner(Commercial Taxes) Rtd Coimbatore Cell 93666-19752 - Reply By Rakesh Chitkara as = Not to worry Mr. Bharath Kumar. Our guess is that it would be extended upto August 1, at least and then max to Sept. 1 - bit by bit. Please understand the psyc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hology of policy makers too Dated: 13-6-2017 Reply By Harish Kohli as = We have to shed this pessimistic attitude. Of course initial hiccups will be there but things will settle down in two or three months. The draft of GST is in circulation since long , where it was clear that state officers have to aquaint themselves with Excise procedures.Most of the rules are on place and still there is tim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e before implementation starts. The GSTN is untested part and will be tested once the load of uploading starts and that is one aspect where one has to keep fingers crossed Read up and Cheer up Dated: 14-6-2017 - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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