GST UPDATE

Desk of CA. Praveen Sharma

Series- 403

What’s your Budget Wishlist

1- The government has done a great job in providing incentives for EVs when it comes to GST and the state governments have also done a lot for road tax not being there. This is a very fast enabler to adopt EVs. This should be there for a longer period of time till we have a big threshold on EVs.

2-Longer wait for GST tribunals with Council yet to clear proposals. Lot of litigation pending at the First appellate authority. 

3- Direct recovery of GST in case of discrepancies between GSTR-1 and GSTR-3B. This should be avoided to give opportunity of being heard and time to reply the information discrepancy.

4- VAT imposed by state governments on fuel at the ballpark figure of Rs 8 lakh crore, and the story is complete—excessive reliance on fuel tax and GST, the two low-hanging fruits that while filling the governmental coffers, hit the common man the hardest.

Regards

CA. Praveen Sharma

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