This topic contains 6 replies, has 3 voices, and was last updated by Rajgopal 2 days ago.
yes it is a good decision for the tax payer, tax practitioner, tax collecting Govt, time will be saved. We have to thank Nandhan Nilkeni for bringing out a simplified one return for all.
In every other country, there is only one return for Indirect tax, one return for direct tax, so here also it should be like that. In Income tax we do not have 2 returns to be filed for a same taxpayer, one income tax return for summary, another income tax return form for details of income and expenditure. we combine all the data in one Income tax return form.CA UNMESH NARVEKAR
February 1, 2018 at 9:01 am
Single Return under GST is necessary to ease of doing compliance. My suggestion GSTR1 is only to be filed rest matching is to be done automatically by portal & through unmatched bills to respective parties who can do necessary modification or rejections as the case may be. Because sale of one is purchases of others so only one has to do the job & not by bth.Bimal Prasad Agarwalla
February 1, 2018 at 9:03 am
Yes Its GoodManoj R Agarwal
February 7, 2018 at 12:57 pm
Single return is a good step. But there should be real time matching of invoices. Otherwise it may lead to situations like vat where mismatch is known by dealer 3 to 4 years later. Also revise returns should be allowed to rectify mismatchesRajgopal
February 23, 2018 at 6:30 am
That is how it should be and that was what was initially stated too. Even the tax payment should be one. The system should take data from the form submitted and take it to different heads like IGST, CGST, Cess. This will be less error prone too.