Even after 2 years, Modi govt has failed to put in place a simple GST system: CAG

Agencies
July 31, 2019

New Ddelhi, Jul 31: The government has failed to put in place a simplified tax compliance regime and non-intrusive e-tax system remains elusive even after two years of the Goods and Services Tax's (GST) roll-out, according to official auditor, Comptroller and Auditor General of India (CAG).

"The complexity of return mechanism and the technical glitches resulted in roll back of invoice-matching, rendering the system prone to ITC frauds. Thus, on the whole, the envisaged GST tax compliance system is non-functional," the CAG has said a report tabled in Parliament on Tuesday.

The new indirect tax regime had kicked in July 2017. The transformation tax structure is aimed at reducing tax cascading, ushering in a common market for goods and services and bringing in a simplified, self-regulating and non-intrusive tax compliance regime.

The CAG said that one significant area where the full potential of GST roll out has not been achieved is the roll out of the simplified tax compliance regime.

While it was expected, the auditor said, that compliance would improve as the system would stabilise, all returns being filed showed a declining trend of filing from April 2018 to December 2018.

According to the report, the filing percentage of GSTR-1 returns (monthly returns on outward supplies) were throughout less in comparison to the corresponding filing of GSTR-3B returns (summary self-assessed return). The introduction of GSTR-3B resulted in filing of returns with ITC claims which could not be verified and it appears to have disincentivised filing of even GSTR-1.

"Since filing of GSTR-1 is mandatory, short-filing is an area of concern and needs to be addressed," the CAG noted.

GSTR-3B being only a summary return, short-filing of GSTR-1 implied that the tax departments did not have complete invoice level details as filed by the suppliers, which could be used to verify details given in GSTR-3B or to arrive at turnover.

During the audit, the CAG found that system validations were not aligned to the provisions of the GST Act and as a result, there were some crucial gaps in the registration module. Among various gaps, the system failed to validate and debar ineligible taxpayers from availing Composition Levy Scheme.

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Mr Frank
 - 
Thursday, 1 Aug 2019

No one can question Modi or Shah bill already passed.

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News Network
March 23,2020

Dubai, Mar 23: The United Arab Emirates announced on Monday it will temporarily suspend all passenger and transit flights amid the novel coronavirus outbreak.

The Emirati authorities "have decided to suspend all inbound and outbound passenger flights and the transit of airline passengers in the UAE for two weeks as part of the precautionary measures taken to curb the spread of the COVID-19", reported the official state news agency, WAM.

It said the decision -- which is subject to review in two weeks -- will take effect in 48 hours, adding: "Cargo and emergency evacuation flights would be exempt."

The UAE, whose international airports in Abu Dhabi and Dubai are major hubs, announced on Friday its first two deaths from the COVID-19 disease, having reported more than 150 cases so far.

Monday's announcement came hours after Dubai carrier Emirates announced it would suspend all passenger flights by March 25.

But the aviation giant then reversed its decision, saying it "received requests from governments and customers to support the repatriation of travellers" and will continue to operate passenger flights to 13 destinations.

Emirates had said it will continue to fly to the United Kingdom, Switzerland, Hong Kong, Thailand, Malaysia, the Philippines, Japan, Singapore, South Korea, Australia, South Africa, the United States and Canada.

"We continue to watch the situation closely, and as soon as things allow, we will reinstate our services," said the airline's chairman and CEO, Sheikh Ahmed bin Saeed Al-Maktoum.

Gulf countries have imposed various restrictions to combat the spread of the novel coronavirus pandemic, particularly in the air transport sector.

The UAE has stopped granting visas on arrival and forbidden foreigners who are legal residents but are outside the country from returning.

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News Network
May 11,2020

New Delhi, May 11: Shares of Indian Railway Catering And Tourism Corporation (IRCTC) jumped 5 per cent in early trade on Monday after the Indian Railways said it will gradually resume passenger train services from May 12.

The company's shares gained 5 per cent to Rs 1,302.85 -- its highest trading permissible limit for the day -- on the BSE. At the National Stock Exchange (NSE), it rose 5 per cent to Rs 1,303.55 -- its upper circuit limit.

Booking for reservation in these trains will start at 4pm on May 11 and will be available only on the IRCTC website.

The Indian Railways will gradually resume passenger train services from May 12 and will ask passengers to arrive at the station at least an hour before departure, the national transporter said on Sunday.

Initially, the all air-conditioned services will begin on 15 Rajdhani routes and the fare would be equivalent to that of the super-fast train, it said.

The special trains will run from New Delhi to Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad, Bengaluru, Chennai, Thiruvananthapuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi.

All passenger services were suspended due to a lockdown announced on March 25 and the railways later started the on-demand Shramik Specials to ferry migrants stranded across the country. It, however, has been running freight and parcel services.

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News Network
February 1,2020

New Delhi, Feb 1: India on Friday banned the export of personal protection equipment such as masks and clothing amid a global coronavirus outbreak.

It did not give a reason for the ban but it reported its first case of the new coronavirus on Thursday, a woman in Kerala who was a student of Wuhan University in China.

The central Chinese city of Wuhan is the epicentre of the outbreak, and the virus has since spread to more than 9,800 people globally and killed 213 people in China.

Several Indian citizens living in Wuhan will arrive in India by plane on Saturday and be taken to a quarantine centre on the outskirts of the capital New Delhi.

India, the world’s second most heavily populated country after China, has taken measures to ensure that all people arriving from China report to health authorities.

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