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June 29 To July 5, 2019 u Taxmann’s Corporate Professionals Today u Vol. 45 u 45Introduction
After the implementation of GST,India has seen a radical
shift in the indirect taxation structure of India. After July 1st,
2017, erstwhile indirect taxes such as Excise, VAT, Service
Tax, Purchase Tax, etc. were subsumed in one Act i.e., Goods
and Services Tax (GST) Act, 2017. GST was introduced in
India with theory of One Nation - One Tax’ which would
convert the entire country into a common market by removing
inter-State barriers. However, industries faced several issues
after implementation of GST due to its complex return filing
structure,interpretation of law and requirement to take multiple
registrations in different states, etc.Implementation Chapter
The implementation of GST in India was not that easy as
it was thought. During initial phase of its implementation
several transitional issues arose and industries found it difficult
because of new hurdles such as matching input tax credit,
delay in sanctioning refunds, tax return formats, introduction
of e-way bill etc. Another major concern was functioning
of the online common portal. The taxpayers faced several
difficulties in filing returns since portal was not working
smoothly. As a result there were several occasions when the
Govt. had extended the due date for filing of GST returns.
GST was introduced with conviction to reduce complexities
of tax structure but the enforcement framework, through
onerous reporting requirements, places a huge compliance
burden on businesses especially those which are small and
medium enterprises (SME’s).Rising graph of litigations
under GST
RAHUL DHUPARH
CA