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The 35th GST council meeting made rules regarding the simplifications of GST Rules. These rules will simplify the GST return system for consumers.
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There has been a rumour going around various social media sites for a long time regarding the extension of the date for the implementation of GST in India to the 1st September 2017 from a decision taken in GST Council meeting. However, in real-time, there has been no such announcement from any official authority or government department.
GST is promoted as this huge change in existing indirect tax regimes in India. Until now, it was to be implemented from 1st July 2017 and there has been no such change on this date.
There have been a few other changes in the schedule of other procedures or demand for such changes by interested parties in the past too. One such example is when the GST enrollment was temporarily closed on 30th April 2017, but it further reopened from 1st June 2017 for a period of 15 days to give an additional opportunity for eligible taxpayers to register.
The Goods and Services Tax Network (GSTN), which was assigned with the task of data collection of existing taxpayers, held a review meeting on last Friday, 9th June 2017, where 34 Goods and Services Tax Suvidha Providers (GSPs) were in attendance. Here, GSPs made a request to GSTN and the Department of Revenue for a one-month extension of date of filing of the first returns under the GST. Currently, the date of the first filing is fixed on 10th August 2017, but they want it to be extended to 10th September 2017.
Though there has been no such announcement for change in the implementation date of GST, we should be prepared for it as there might be such an announcement made by the authorities any time soon. Our reason for such a conclusion is that there is still a lot of confusion and ambiguity regarding enrollment and registration procedures under GST. Various changes and updates in relation to GST have been issued, which adds to further confusion.
In our opinion, we should expect more than one such extension, as the authorities and taxpayers are in a state of confusion and chaos regarding GST and need some more time and clarification in procedures for the smooth implementation of GST.
However, Finance Minister Mr. Arun Jaitley announced on Sunday, 11th June 2017 a further reduction in tax rates of 66 items. He said the reason for such reduction was done after getting feedback from key industry players.
However such major change just a few days before the actual rollout date of GST clearly signifies the confusion and uncertainty associated with this new reform.
Read our article:Applicability and Impact of GST on Healthcare Services Sector in India
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