GST council proposes to nominate one dept for GST refunds
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In a good news for the businessmen who are victims of delayed GST refunds from either state taxation department or Central GST department, the GST council is going to start a pilot project to do away with the hassle of dealing with two departments. Under the project which was proposed in Saturday’s meeting of GST council, only one department either state or central GST department will be made the nodal agency for processing the GST refunds of businessmen and if the pilot project turns out to be successful then decision will be formally taken. However, no date of start of the pilot project has been announced by the GST council yet but the city businessmen and tax professionals are of the view that if initiated, this will be a big boost for the trade and industry.
According to Narinder Bhamra, CEO of Ludhiana Effluent Treatment Society (LETS), “This can prove to be a revolutionary step for doing away with woes of businessmen. As presently we are forced to deal with both state and centre GST departments separately for seeking refunds for every single transaction. This not only increases our hassles but also upsets our finances as most of the times centre tax department processes refund faster while state department takes more time. I think rather than starting it on pilot basis, the government should launch this with immediate effect as it will lead to faster processing of refunds and save our time and money”.
According to GS Kahlon, president of Auto Parts Manufacturers Association, “Nominating only one department for processing of refunds will make matters a lot easier for us as everything related to GST refunds will be streamlined and reduce harassment as we will have to deal with only single point of contact for the delays and any mistakes regarding the refunds. GST council should start the project at the earliest so as decision in this direction should be taken at the earliest”.
According to Shan Singh, city-based taxation professional, “The move to appoint one nodal department for processing the GST refunds will not only reduce the burden on the tax payers but also on the taxation professionals who presently have to deal with two departments separately for process of refunds. In fact this decision should have been taken long back.”
Source : times of india.
K.C. MAHATO is expert in GST Consultancy and has an experience of more than 10 years in Indirect tax, Direct Taxes and the accounting profession. He is also giving GST Practical Training to Students and SME Traders. He provide services that most effectively meet client needs. His experience is concentrated in performing GST Laws & Practices and compliances of gst in a variety of industries.
