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KASSIA’s Suggestions to GST Council on behalf of MSMEs

Giving its suggestions for the consideration of the forthcoming GST Council Meeting, KASSIA has reiterated its plea to bring petrol, diesel under the ambit of GST to check its soaring price rise; restore the previous system of Monthly Return and Quarterly Payment as it was during VAT regime, since payments to MSMEs are routinely delayed beyond 90 days, increase Turnover Limit of Composition Tax from present Rs 1.5 crores to 3 crores or more up to 5 crores, as this can increase revenue collection by 200-300%, since more than 90% of the businesses in the country are B2C, and lack basic knowledge of accounting systems of Input credit, output collection and tax remittance
Bangalore | Written by: BNN Team | Updated: 16-09-2021 | Views: 195
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It also called for minimising tax rates i.e. lowest slab for essential items like food items, highest slab for sin goods as well as luxury goods and all other goods must come under one slab of 15% only.

Also, frequent changes in the documentation or software system such as for example the latest change in the file generation in “JSON” format on “off line” mode - in compliance systems is only ending up harassing the small entrepreneur and benefiting software and accounting professionals, it said and suggested any change notified should compulsorily be cost-free to the assesses and the proposed changes should at least be on the portal of GST in a beta mode for a period of not less than one year and should also be simpler than the existing procedures.

Observing that the present system of E-way Bill is replete with faulty procedures and leading to lot of logistical problems giving room for corruption at the field level, KASSIA urged the Council to simplify the generation of e-way bill and also double the validity of the e-way bill from the existing timeline.

KASSIA also pointed out that a lot of Assessees are under the impression that once they file returns, no further questions would be asked, while there was no such clear cut information from the concerned authorities, and said any clarification should be sought for in a time-bound manner, that is, within three months from the date of filing of returns, and not beyond that.

KASSIA also appealed to make available to industry associations and registered societies, deduction of Input Tax Credit towards expenses viz. boarding & lodging, hotel stays, catering, purchase of mementoes, garlands & bouquets, related to conduct of seminars and awareness programs on GST and other policy matters of Government and issues related to manufacturing and other sectors. Further, it requested for GST exemption for sponsors of such awareness programs held by the associations, to disseminate policy matters to the industry.

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