Gst Electronic Filing: Fill & Download for Free

It would be extremely difficult to evade taxes under the GST regime due to integration of the entire India as one market and the extensive use of information technology in the GST regime.Let us understand some important features of the GST regime1: Electronic Filing of ReturnsAll taxpayers must file separate electronic returns onlyReturns must provide invoice level detailsInput tax credit shall be allowed only after matchingIf the service provider don’t file return and don’t pay taxes, the recipient would lose creditDepartment shall know the details of each person who has received goods or services and hence immediately catch the defaulters, if they fail to deposit taxes2: Mode of Payment of TaxesSystem of electronic cash ledger and electronic ITC ledgerTax can be deposited by internet banking, NEFT / RTGS, debit/credit card and Over The CounterDate of credit to the Govt. account in the authorized bank is the date of payment for credit in electronic cash ledgerPayment of Tax is made by way of the debit in the electronic cash or credit ledger3: Common portal of GST NetworkGSTN to develop back end modules for 27 States (MODEL –II) and rest of the states would have their own backend system.GST Portal to function as a Common Pass-through portal for taxpayers tosubmit registration applicationfile returnsmake tax paymentsGSTN experts would also do data mining and they would intimate the tax officials in case a person fail to pay the GST in time.4: Severe Punishment to tax defaulterGST law is very strict to the tax defaulters. There is provision for arrest and prosecution for the tax defaulters in addition to severe penalty and fine.Source: http://www.cbec.gov.in/resources//htdocs-cbec/gst/ovw-detailedason01052017.pdf

No charge if this happens in Singapore. In fact, with effect from tax year 2020, all companies in Singapore have to file income tax returns electronically. No manual filings will be allowed.For Singapore GST, it’s already on e-filing system and even for withholding tax, Singapore adopted e-filing since 1 July 2017.It’s all FREE services.

I broadly supported the concept of GST for its potential benefit to India.It was speculated even by international agencies that the GDP of India would be increased by 4% after the GST implementation.[1][1][1][1]However, poor drafting of law and bad implementation is becoming a curse to the GST.I am afraid that the way GST is implemented, it would perhaps decrease the GDP of India by 1-2% instead of increasing it.GST is pinching everyone in the trade and industry.However, it is so much pinching to the small businesses that many of them would be closing their shops very soon, which would lead to massive unemployment and unrest in the country.Let me give you a few most important points to explain the same.1: No SSI ExemptionAll over the world including India, there had always been a small scale exemption to protect the small and new businesses from tax compliance and to avoid harassment by tax officials. In India, before GST, the manufacturers had exemption up to the turnover of ₹1.5 crores and service providers ₹10 lakhs per year.GST has no SSI such exemption in place.There is only an exemption from registration up to ₹10/20 lakhs. However, there are 11 plus categories where you have no exemption at all. These categories are:(i) Persons making any inter-State taxable supply;(ii) Casual taxable persons making taxable supply;(iii) Persons who are required to pay tax under reverse charge;(iv) Electronic commerce operator providing services under sub-section (5) of section 9 [Specified inter-state supplies];(v) Non-resident taxable persons making taxable supply;(vi) Persons who are required to deduct tax under Section 51(vii) Persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise;(viii) Input Service Distributor(ix) Persons who supply goods or services or both through such electronic commerce operator who is re-quired to collect tax at source under Section 52;(x) Every electronic commerce operator;(xi) Every person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered person; and(xii) Such other person or class of persons as may be notified by the Government on the recommendations of the Council.Hence, if your business is in Delhi and you supple even ₹ 1 value of goods or services to Noida or Gurgaon, you lose all benefits of registration and you have to pay GST for all transaction from the first rupee. You will prefer not to supply there and hence your business would shrink. In the same way, if you are selling your goods through Amazon, Flipkart etc., you have to register and pay tax from the first rupee.2: Cumbersome ProceduresIn the pre-GST era, a service provider has to submit only ONE ST-3 return in six month while a manufacturer submitted one return every month. Now every supplier of goods or services must submit 3 returns every month for every state in which he operates. There is a heavy penalty of ₹ 200 per day for each return for late filing.The GSTN is not able to take the load and people are spending hours submitting returns rather than doing their business. Many people are feeling so harassed that they may prefer to close the business instead of complying with these procedures.3: Reverse Charge for Unregistered SupplierThe cruelest provision of GST is the reverse charge provision under Section 9(4) of the GST Act. If a registered person gets his goods/services from an unregistered person, he has to discharge the full tax liability of the unregistered person. Therefore, most registered person would avoid buying anything from small suppliers, which is going to kill their businesses.I hope that Government of India wake up from its slumber and make quick changes in the GST Acts.If they don’t, Indian businesses are going to suffer immensely.This will not be good for India and this will not be good for the politicians who are behind GST implementation.Footnotes[1] GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper[1] GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper[1] GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper[1] GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper