Question : Is GST going to increase compliance burden on the trade?
Answer: No. On the contrary GST will result in streamlining of processes and reduction of compliance burden. GST is a simple tax which uniformly applies across the country. GST has been designed to have minimal human interface and would be implemented through strong IT platform run by GSTN.
Also, in the earlier regime there were multiple compliances required for taxes such as Central Excise, Service tax, VAT etc. with Centre and State. GST makes it single and uniform compliance for indirect taxes across the country. Under GST, there is just one interface with no face-to-face meeting between taxpayers and tax authorities and practically every activity will be done online.
Related Topic on GST
|GST Acts||Central GST Act and States GST Acts|
|GST Rules||GST Rules|
|GST Forms||GST Forms|
|GST Rates||GST Rates|
|GST Notifications||GST Act Notifications|
|GST Circulars||GST Circulars|
|GST Judgments||GST Judgments|
|GST Press Release||GST Press Release|
|GST Books||Best Books on GST in India|
|GST Commentary||Topic wise Commentary on GST Act of India|
|GST You Tube Channel||TaxHeal You Tube Channel|
|GST Online Course||Join GST online Course|
|GST History||GST History and Background Material|