The document discusses various procedural aspects of the Goods and Services Tax (GST) in India such as registration, payment, returns and refund processes. It provides details on the registration process for new taxpayers and existing taxpayers including composition scheme registrants. It outlines the proposed structure of the GST registration number. The payment process discusses the different tax types, modes of payment and the accounting system. Key aspects of the returns filing process are also covered along with reconciliation of receipts.
3. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Involving Stakeholder’s Consultation on GST
• First welcome step by the Government in its journey towards GST
implementation.
• Various proposals on the compliance process as suggested in the reports
would facilitate greater efficiency in tax administration and ease of doing
business.
• All the stakeholders should take this opportunity of providing feedback on
the draft proposals
• comments/feedback on the same can be submitted through the MyGov.in
portal, on which the discussion threads on GST would be made available
4. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
GST Implementation Time (in
Months)
•Both houses pass the bill independently with 2/3rd
majority 1
•50% of the states ratify in their assemblies + Receipt of
Presidential Assent
3
•Formation of GST Council 1
•Model GST law should come out for public suggestion at both
central and state level
3
•Elaborate Discussion on the Negative List 1
•Central GST Law is passed by the centre + Presidential Assent 1
•State GST Law is passed by the states (after battling with
Municipalities and Local Bodies) + Governor’s Assent
3
•Educating the end users 3
•GSTN – IT Network is established 1
•New Registration numbers are allotted 1
Minimum Time 18
5. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Procedural Aspect grossly
includes:
I. Registration
II. Payment
III. Return
IV. Refund
6. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Let us discuss them one by one
I. Registration process
Introduction:
• Includes the process for registration
under the GST
• Procedures & requirements for
registration
• Procedures to be followed by registered
dealer under VAT & service provider
under service tax
• Procedures for supplier under
composition scheme
• GST number / GSTIN structure
7. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Process Under GST
1.Registration For New
Tax Payers
8. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Crux For New Registrations
•Single process across
the country for all
•PAN based unified
Registration
Mandatory
Regime Under GST Current Regime
•Different according
to different States &
Centre
•Only under Service
Tax & Excise Regime.
9. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Crux For New Registrations
• Simplified reg. for
entities having
presence in more than
one state
• Link all transactions of
a person
Regime Under GST Current Regime
• Separate for
ST/Excise/Different
State VAT Laws
• No such linking under
the current laws
10. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
• Registration on the basis
of unified turnover
threshold
• Within a PAN, separate
registration for separate
business verticals within a
State possible
Regime Under GST Current Regime
• Registration on the basis
of different turnover
thresholds
• Different registrations under
different States & Centre
Registration Crux For New Registrations
11. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
• Exempted turnover should
also be included in threshold
• Input credit prior to registration
• Unified application to both tax
authorities – State / Centre
Regime Under GST Current Regime
• Only taxable turnover to be
included in threshold
• Different rules
• Different applications to
different tax authorities
Registration Crux For New Registrations
12. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
• Real-time verification
& validation of PAN,
Aadhar Number &
CIN.
• Hard copy of the
documents will not
required to be sent if
Digitally Signed
Regime Under GST Current Regime
• No Real-time
verification under the
current procedures
• Hard copies are
required to be send
mandatory
Registration Crux For New Registrations
13. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Crux For New Registrations
• Deemed approval after 3
days
•Refusal to register by one
tax authority deemed as
refusal by both• In case of error the same shall be
communicated to the applicant
either by the Tax Authority
directly or through the GST
Common Portal
Regime Under GST Current Regime
• Different time limits in
States & Central laws
•Refusal according to
prevailing State and Central
Laws
•No such common portal.
Different methods according
to State Rules & procedures
14. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Process Under GST
2. Registration For
Existing Tax Payer’s
15. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Crux For Registered Tax Payers
• Dealers registered under VAT laws, Service Tax or
Central Excise will be granted GSTIN
• Validation of PAN
• On the basis of validated PAN GSTIN shall be
generated• Intimated to taxpayer through State and Central
authorities• Remaining data shall be collected & verification shall be conducted after
allotment of the number
• Cancellation if business not commenced within
stipulated time• Rating to dealers / Blacklisting norms – sms
facility
16. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Process Under GST
3. Registration For
Suppliers Under
Composition Scheme
17. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration For Supplier Under Composition
Scheme
• Threshold for
composition scheme
• No input tax credit can
be claimed
•Switch from composition to
regular scheme - voluntarily
or on crossing threshold
Regime Under GST Current Regime
• Different Composition
Schemes as per different
State Laws• Different methods
defined under various
State Laws
• As per Rules prescribed
under various State Laws
18. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration For Supplier Under Composition
Scheme
• To opt at the beginning
of the year – applicable
till eligibility or opting
out
• Interstate supplies
restricted
Regime Under GST Current Regime
• As per Rules prescribed
under various State
Laws
• As per Rules prescribed
under various State
Laws
19. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Registration Process Under GST
4. GSTIN Number
Structure
20. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Structure of GSTIN Number
• 15 digit Alphanumeric
structure
• First Two digits State
Code
•Next 10 Digits will be PAN
numbers
•13th Digit for Business
Verticals of entities with same
PAN in same State
•14th digit left blank for future
use & 15th digit – Checksum
Regime Under GST Current Regime
•For Service Tax
15digit
alphanumeric
number but
different in States
as per State Rules
21. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
GST – Interesting facts –
Numbers in Rajya Sabha
Opposition – Strength of 132 / 243 members
69 of the Congress, SP 15, 12 of the TMC, the JD(U)’s 12, the CPM’s 9, 6 of the NCP, the CPI’s 2, the
NC’s 2, the RJD 1, the JD(S) 1, the JMM 1, Kerala Congress-M 1 and INLD 1.
Besides this the House has 12 nominated members who owe their berths to the Manmohan Singh
government
As against this, the BJP (45) and its allies - add up to only 60 members.
As many as 42 MPs — belonging to the AIADMK (11), BSP (10), BJD (7), DMK (4), Independents and
others (7) can swing either way.
22. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Payment Process Under GST
Introduction:
• Includes the process for payment
of tax under the GST
• Types of taxes under GST &
modes of payments
• Procedures to be followed by
departments
• Proposed accounting &
reconciliation systems for the
23. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Payment Process Under GST
1. Tax types and modes
of payments
24. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Tax Types and Modes of Payments
•Included 4 types
of Taxes viz.
CGST, IGST,
Additional Tax
and SGST
Regime Under GST Current Regime
•Separate
payment of
taxes as per the
State wise Laws
25. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Tax Types and Modes of Payments
• Three Modes of Payment
• Electronic including CC/DC
(Mode I)
• Over The Counter Payment
(for Payments upto
Rs.10,000/-) (Mode II)
• Payment through RTGS/NEFT
(Mode III) – any bank
Regime Under GST Current Regime
•Payment can be made
through online Net
banking or manual through
authorized banks. Only few
banks are authorized to
collect.
26. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Tax Types and Modes of Payments
• Payment can be
accepted by
Departmental
officers in
enforcement cases
only
Regime Under GST Current Regime
•Different rules &
procedures as
prescribed by States &
Centre for recovery of
taxes
27. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Payment Process Under GST
2. Basic Features
28. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Basic Features
•Only electronically
generated Challan from
GSTN for all 3 modes
•Unique 14-digit Common
Portal Identification Number
(CPIN) for each challan
• Challan can be generated by
Taxpayer, authorized
representative or Departmental
officers
Regime Under GST Current Regime
•Challans generated can be
either electronic or
manual•Unique 20 digit CIN is
generated under service tax &
different for VAT as per State
wise•Challan is normally
generated once at the time
of payment
29. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Basic Features
•Single challan for
all four types of
taxes•System of electronic
Personal Ledger
Account (cash ledger)
on GSTN for each
taxpayer
Regime Under GST Current Regime
•Different for VAT
Service Tax &
Excise
•No such system
under current
regime
30. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Basic Features
•RBI to act as aggregator and
anchor of flow of fund and
information about receipts
•Automation and transparency
in flow of information
•E-scroll (statement of tax
payment) facility will be
provided by RBI
Regime Under GST Current Regime
•No such mediator under
current laws
•Transparency & flow of
information depending on
the State`s working
•No such procedures under
current laws
31. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
GST – Interesting fact
Will CGST be the only thing that gets passed
32. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Payment Process Under GST
3. Proposed
Accounting
System
33. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Proposed Accounting System
• 4 account heads for each
tax and its interest,
penalties etc.• Standard uniform Accounting
Codes for all taxes to facilitate
settlement of IGST on the basis
of centralized reporting• Common Accounting
Codes for Centre &
States
Regime Under GST Current Regime
•Under service tax different
codes as per services. Account
heads under VAT as per State
wise•Different schedules & codes
of payments for VAT &
service tax
•Different for States & Centre
34. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Payment Process Under GST
4. Reconciliation of
Receipts
35. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Reconciliation of Receipts
•Use of only system generated
challans – no re-digitization
in the entire work flow
• CPIN to be generated by GSTN -
to be used as a key identifier up
till receipt by Bank
• CIN to be generated by collecting
Bank - to be used as a key
identifier
Regime Under GST Current Regime
•Different
reconciliation
methods as per
States & Centres
36. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Reconciliation of Receipts
• Accounting Authorities
to play a paramount
role in reconciliation
• Accounting on the
basis of RBI data,
• Reconciliation on the
basis of GSTN and
bank data
Regime Under GST Current Regime
• Different
reconciliation
methods as per
States & Centres
38. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
GST – Interesting fact
Congress opposition Grounds
Dispute settlement
1% levy
18% Rate
No definition of Supply
Exclusion of Tobacco / Electrity / Alcohol
GST Council – centre’s weight
Revenue of Panchayat’s and Municipalities to be safeguarded
Special provisions for states like Goa / Puducherry
39. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Returns Under GST
Introduction:
• Includes the procedures &
types of returns to be filed
under the GST
• Periodicity & due dates for
the returns
• Invoicing & credits under GST
• Revision of filed returns
40. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Returns Under GST
1. Basic Features
41. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Basic Features
• Common e-Return for all
taxes
• Separate returns for
different categories of
taxpayers•Returns in sequential manner
with different cut-off dates
for auto-population of return
and invoice
Regime Under GST Current Regime
•Different returns for Centre &
State taxes
•Different returns for
categories tax payers State
wise
•Different due dates &
procedures State wise
42. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
•Provision for filing
revised information
•Differential Tax
liability to be captured
through Debit Note /
Credit Note /
Supplementary
invoices / correction
mechanism
Regime Under GST Current Regime
Basic Features
•Complete return
is revised
43. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
•Payment of due tax
is must
•Maintenance of
electronic Cash
Ledger
Regime Under GST Current Regime
Basic Features
•Technically tax can
remain unpaid
under ST
44. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
•Maintenance of
electronic ITC
Ledger
•Maintenance of
electronic Tax
liability Ledger
Regime Under GST Current Regime
Basic Features
•No such provisions
45. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Returns Under GST
2. Periodicity of
Returns
47. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Periodicity of Returns
• Normal/Regular
taxpayers – monthly
return - GSTR -1• Compounding taxpayers to file
quarterly return: by 18th day of
succeeding month of the Quarter -
GSTR-4
•Foreign Non-resident
Taxpayers to file monthly
return within 7 days after
expiry of registration- GSTR-
5
Regime Under GST Current Regime
•Different due dates &
Return forms as per States
& Centre
48. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Periodicity of Returns
•Input Service Distributors
(ISD) taxpayers to file
monthly return by 5th day
of succeeding month-
GSTR-6
•Tax Deductors to file
monthly TDS return: by
10th of succeeding month
– GSTR- 7
Regime Under GST Current Regime
•Different due dates &
Return forms as per States
& Centre
49. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Periodicity of Returns
•Casual taxpayers to file
same return form of
normal taxpayer
•UN agencies to file return
for the month in which
they make purchases
Regime Under GST Current Regime
•Different due dates &
Return forms as per States
& Centre
50. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Periodicity of Returns
•All Regular and Compounding
taxpayers to file Annual
Return
•Last date - 31st December
following the end of the
financial year•Reconciliation statement to
be filed by taxpayers who are
required to get accounts
audited under IT Act
Regime Under GST Current Regime
•Different due dates &
Return forms as per States
& Centre
51. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Expected Tax Rates under GST Regime
GST Rates
o Expected to be in the range of 18-27%
o No clarity on composition schemes without ITC benefit
o Rates may be lower by 4% if we are under exemption in
Service Tax
Existing Taxes under a Building Contract
Particulars Amt in Rs. Excise VAT Service Tax Total Tax Tax in Rs
Cement 15 12% 15% 27.00% 4.05
Steel 25 12% 5% 17.00% 4.25
Other Materials 15 12% 10% 22.00% 3.30
Sand / Aggregate 10 0% 5% 5.00% 0.50
Labour 20 14% 14.00% 2.80
Admin & o/h 3 14% 14.00% 0.42
Depreciation 2 15% 14% 29.00% 0.58
Profit 10 14% 14.00% 1.40
Composition VAT 2% 2.00
Total 100 19.40
53. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Un-matchedMatched
ITC Reversed to be paid
along with Interest by
Purchaser
Two months period for
reconciliation
Reconciled Non-Reconciled
ITC Finalized in
Purchaser's ITC Ledger
ITC finalized in
Purchaser's ITC ledger
GSTN to
inform
purchaser
GSTN to
inform both
parties
Matching by GSTN
54. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Invoice Matching & Credit Reversal
•B2B supply information
given by the supplying
taxpayer in GSTR-1will be
auto-populated into
GSTR-2 of the
counterparty• Purchasing taxpayers allowed
to add invoice details in
GSTR-2 & avail credit if they
have received supply
goods/service
Regime Under GST Current Regime
•Different due dates &
Return forms as per States
& Centre
55. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Invoice Matching & Credit Reversal
• Counterparty registered
taxpayers to have a 2-day
window to reconcile invoice
information among
themselves prior to filing of
GSTR-3•Credit availed on
unmatched invoices
shall be auto-reversed
in subsequent return
Regime Under GST Current Regime
•Different due dates &
Return forms as per States
& Centre
56. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Returns Under GST
3. Revision of
Return
57. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Revision of Returns
•Revision of
information
permitted
• Changes in Tax liability / ITC
amount to be handled through
Debit- Credit Notes, Revision
of supply invoices,
Amendments / Corrections
Regime Under GST Current Regime
•Permitted under
current regime
• No such provisions
under current regime
58. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Refund Process Under GST
Introduction:
• Includes the situations where
refunds may arise
• Procedures & requirements for
refund of GST
• Time limit for application of
refund
• Interest on refunds
• Date of application of interest
59. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
1. Situation where
refund would arise
Refund Process Under GST
60. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Situation where refund would arise
Regime Under GST Current Regime
Different
rules &
procedures
for States &
Centre
61. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
2. Time limit and
Documents required
for filling refund
Refund Process Under GST
62. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Regime Under GST Current Regime
•Different dates &
procedures as per States &
Centre
Time limit required for filing refund
•It is recommended that a period
of one year from the relevant
date may be allowed for filing of
refund application.
The following dates are recommended as
relevant dates for different type of refund
cases under GST:
63. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Time limit required for filing refund
S.
N.
Situation of Refund 1 year from below Relevant Date
1 On account of excess payment Date of payment of GST
2 On account of Export of Goods
Date on which proper officer gives
an order for export known as “LET
EXPORT ORDER ”
3 On account of Export of Services Date of BRC
4
On account of finalization of
provisional assessment
Date of the finalization order
5
In pursuance of an appellate
authority’s order in favour of
the taxpayer.
Date of communication of the
appellate authority’s order
64. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Time limit required for filing refund
S.
N.
Situation of Refund Relevant Date
6
On account of no/less liability arose at
the time of finalization of investigation
proceedings
Date of communication of
adjudication order or order
relating to completion of
investigation
7
On account of accumulated credit of GST
in case of a liability to pay service tax in
partial reverse charge cases.
Date of providing of service
8
For refund arising out of payment of GST
to Embassies or UN bodies, etc. on the
basis of applications filed by such
persons
Date of payment of GST
9
On account of refund of accumulated ITC
due to inverted duty structure
Last day of the financial year
65. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
•Documents evidencing tax
payments required to be
enclosed with the refund
application• Copy of proof of deposit of tax &
invoices & Documents evidencing
export
• A CA Certificate may be called for
evidencing that the tax burden has
not been passed on to the buyer.
(“unjust enrichment”)
Regime Under GST Current Regime
•Different Rules &
procedures as per
States & Centres
Documents to be filed for refund:
66. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
3. Interest on Refunds
Refund Process Under GST
67. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
• Prescribed time limit of 90
days from the date of the
system generated ack, after
which interest clause will start
automatically
•Rate of interest in case of
refund may be around 6%
Regime Under GST Current Regime
•Different Rules &
procedures as per
States & Centres
Interest on Refunds:
68. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Issues Under Current GST Process
• Whether any self declarations / affidavit to
be filed at the time of registration or
surrender
• No details for authorization or declarant
filing the application
• Generally it is expected that there would be
lesser compliance burden in GST regime
but looking at the return process, every
registered taxpayer would be required to
file 3 returns each month, it means where a
company is registered in 10 states, the
number of returns required to be filed
69. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Issues Under Current GST Process
• “over the counter” payment will be
available for payments upto Rs.
10000/- per challan only. However,
the report does not describe whether
Rs. 10000/- per challan will be per
challan per day or per challan per
month or something else
• Proposed payment process does not
allow other means of payment such
as book adjustments under Service
70. Sandesh Mundra & Associates – Prepared by Naimesh Padhiar - sandesh.mundra@smaca.in - 9426024975
Views on Current GST Process
• RCM should be avoided in GST except for
transaction from non-taxable territories
or RCM with a threshold to be
introduced.
• A statement similar to 26AS should be
made effective for ITC credit &
transparency
• Since almost all procedures are done on
real time & online basis process of refund
of taxes should be prompt without any