Issues with GST: Inputs Sought

This discussion should have ideally happened in this circle but I guess LC Manager may have put it there to get consumer inputs. Businesses are the ones who crib many times. Every one here is your turn to share GST problems. more  

I really feel that the Local Manager has to take up the case of GST for Co-op housing societies and let us get back our GST contribution retrospectively. Abolish Input tax as it is creating a lot of corruption. Surely the government can see what is happening, they are not blind - then why do they not do anything about it? more  
1. GST is not a Good and Simple Tax as was promised by PM.
2. Input Tax Credit system has given an opportunity for massive frauds. Input tax credit is 400% of GST collection.
3. Input Tax Credit system needs to be abolished. GST rates can be 0% for exempted goods & services, 5% for all goods & services and 15% for luxury goods & services without input tax credit.
4. GST @ 18% on members contribution towards common expenses per month exceeding 7500 is unconstitutional. Section 2(17) (e) of CGST Act 2017 should be deleted. Explanation is attached.
5. GST @ 18% on TV viewing should be reduced to 5% as TV is used by all sections of society including poor persons.
6. GST @ 18% on Insurance Premium should be reduced to 5%.
7. GST compliance has become complex day by day since July 2017 due to hundreds of notifications being issued to make it more complicated. This has created an opportunity for corruption.
8. Even Advance Ruling Authorities are a confused lot as different rulings are being issued in States.
9. Cement is being charged GST @ 28%. Is it a Luxury good? Even poor also need it. The GST rate should be 5% without input tax credit.
10. Abolishing Input Tax Credit will save thousands of man hours spent on filing a large number of Returns.
11. Abolishing Input Tax Credit system will result in savings of Crores of Rupees to business men which they incur on getting Returns filed by Chartered Accountants. Minimum charge for filing a Nil return is Rs.1200/-.
12. GST Council should also invite Business Men and Chartered Accountants for meeting to make GST a Good and Simple Tax. more  
Post a Comment

Related Posts

    • Cluelessness abound

      The leaders of the Govt, the babus of the Govt are very clueless LocalCircles and we have not done enough to wake up these people. Read below: 5% GST on COVID vaccine. 28% GST...

      By Sudesh Rai
    • Buying a suv in India is 50% giving tax

      What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...

      By Sunita Varghese
    • Request for cancellation of GST registration pending since November 2020

      I had submitted request for cancellation of registration on 11th November 20 using GST portal. The local officer sent me a notice suggesting change in the date of cancellation. I filed clarificatio...

      By Shrikant Kulkarni
    • Tax Contributions

      Biggest myth in India is that the country survives & flourishes ONLY on Middle Class income tax. The fact is that largest revenue generation in India is done thru GST & corporate tax ~ 59%....

      By Sudesh Rai
    • Issue Press Release and Publish Photos of corrupt CBIC and CBDT Officers.

      Several CBIC and CBDT officers, which should be renamed as Central Board of Direct Rxtortion have been publishing names of CAs and their involvement in fake credit. Wheras all cityzens appreciates ...

    • GST myths versus facts

      Issued by GOI today attached

      By Naina Mittal
    • GST on online music class

      I plan to start online music classes that will be delivered by prerecorded videos. My turnover will be below the limit of 20 lacs/annum. Do i need to register for GST. Appreciate your input on this...

      By Ram N
    • Garbage burning rampant in Noida

      these are the pics from Noida Sector 120 where garbage is being dumped and burnt by some miscreants and a friend sent thes. This is happening from past 1 month and nothing has been done to stop thi...

      By Sudesh Rai
    • Verify suppliers GST friends

      Whether u are taking services at a personal level or for your business, verify the vendors gst. There is still many vendors who give a gst invoice (generally non printer one) which has a gst number...

      By Sudesh Rai
    • GST should be applicable only when builder pay commssion to real estate consultants.

      Gst should be only applicable to Real estate consultant only when the builders pay commssion to associate. It is big problem for real estate consultants to submit bill and pay gst in advance witho...

      By Anonymous Circle member
    • GST Cancellation and Company Registration No

      If I cancel my GST no, will I have to surrender my company's registration no as well?

      By Neeru Sood
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)