The next meeting of the GST council is scheduled at 14th March 2020. This is a very crucial meeting. Many important issues are pending. Infosys’ head is also invited by the government to explain the reason for GSTN glitches. Also, the time frame within which they can resolve all the issues. Apart from this following important issues are listed for discussion.
1. New Return of GST may be postponed:
The government has proposed the postponement of new GST returns. This system was supposed to be in place form 1st April. A trial version of return is also live on the GSTN portal. But now the government wants to take some time before its final implementation. See FAQ’s on GST new retrun.
2. E-Invoice and QR code may also get deferred:
E- Invoices were also proposed from 1st April for specified taxpayers. They are also expected to be postponed.
3. Interest on late filing of return:
This is one of the most leaming issues. Many notices are sent to the taxpayers for payment of interest. Although the section covering interest in CGST Act is amended. Interestingly the government keeps its notification pending. meanwhile department is recovering the interest on gross. In the case of refex industries, Court also rules that it should be applied retrospectively.
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