Quick Summary
The AIMTPA team has made a request to the Finance Minister Smt. Nirmala Sitharaman stating prevalent issues that are being faced by taxpayers and professionals regarding GST. They have also suggested some solutions to those issues including that of GST late fees, unanswered questions of Section 16(4), departmental audit under Section 65, and issues related to Rule 36(4). The relevant text of representation is as follows: 1) Late fees: On knowing the graveness of the subject from media, the
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FAQ :
The AIMTPA has raised concerns regarding GST late fees, Section 16(4) provisions, departmental audits under Section 65, and issues with Rule 36(4), alongside problems with the GST portal.
The association has requested an extension of the late fee waiver scheme until 31st December 2020 and the implementation of an SOP for timely processing of revocation applications to allow taxpayers to re-enter the system.
Taxpayers fear the consequences of Section 16(4) for late filings, especially those who migrated late. The AIMTPA suggests avoiding the invocation of this section for the initial three years, assuming the Doctrine of Severability.
Notices for departmental audits for 2017-18 and 2018-19 have been issued while taxpayers are busy with annual GST returns and income tax audits. The AIMTPA requests these proceedings be deferred to the next calendar year.
Rule 36(4) restricts input tax credit to 10% above the amount appearing in GSTR-2A. This penalises genuine taxpayers, especially those dealing with quarterly filers, and can lead to double taxation or non-compliance.
The AIMTPA suggests a holiday from following Rule 36(4) from its inception (ab-initio) to alleviate the difficulties faced by businesses.
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