CA Sudhir Halakhandi
Quick Summary
The outbreak of COVID-19 and the compulsion to stay at home is tough but at the same time it is bringing out the creativity in everyone. CASudhir Hakalkhandihas started with a series called Know your GST Expert.What a wonderful initiative to keeps the members updated. Here is the third interview fro
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FAQ :
Advocate Jatin Harjai rates the implementation of GST as 3 out of 10, stating that while the concept was good, it degraded at each step and has increased the burden for many businesses.
Harjai believes that GST has significantly damaged the SME sector, both trading and manufacturing, by increasing compliance burdens and making it harder to compete with larger players.
He advises professionals to keep terms of engagement in writing, charge according to effort, and take out time for personal interests like games, movies, or music, and to read spiritual literature.
He recommends understanding the basic structure of the law, then reading the bare act, rules, and notifications. Applying this knowledge to practical cases and referring to judgments is crucial, advising to read full judgments rather than summaries.
Harjai considers Rule 36(4), which restricts input tax credit to 10% over details filed by the supplier, to be an absurd use of delegated legislation that makes taxpayers' lives difficult and is likely to be struck down by courts.
He believes the complete failure of GSTN is not reaching the top government levels. He suggests removing the matching concept temporarily and relaunching GST in a phased manner, finding alternative ways to tackle tax evaders without disturbing all taxpayers.
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