Comments on Recommendations of 42nd GST Council meeting

Lekhraj sood | Last updated: 09 October 2020

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This article provides commentary on the recommendations from the 42nd GST Council meeting held on 5th October 2020. It discusses concerns regarding the proposed quarterly return filing for small taxpayers, suggesting it may not significantly reduce their compliance burden and could negatively impact larger taxpayers by reducing available Input Tax Credit (ITC). The article also highlights potential issues with the revised GSTR-1 due dates and the increased complexity of HSN code requirements.

Comments on recommendations of the GST Council in its 42nd meeting on 5th October 2020. 1. Recommendation- In an effort to reduce the compliance burden on the small taxpayers having the aggregate annual turnover less than Rs. 5 cr., allowing filing of returns on a quarterly basis with monthly pay

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About the Author

Lekhraj sood

Providing consultancy in the area of indirect taxation,GST,imprt/export/Finance and accounts,GST training and coaching, corporate practical experience of more than 30 years.

I am Chartered Accountant with plus 30 years experience in MNCs as CFO and head of various roles such taxation,Accounting,Costing,Finance Treasury,SAP. You can see my profile at https://www.linkedin.com/in/ca-lekh-sood-82039519/ .Having worked in Industry I have practical approach to problem solving and believes in ad ... Read more

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