New GST Return Filling System is a Welcome Move, but Industry Preparedness a Must
5 May 2018
FICCI welcomes the simplified tax return filing process approved by the GST Council, but it should be implemented keeping in mind the industry's level of preparedness. It is believed that the proposed return filing system would ease the compliance burden of the taxpayers under the GST regime. However, the timeline of six months to implement the new system should be reviewed in accordance with the industry readiness for the new system. The implementation of the new GST return filing system will be smooth if the industry is fully prepared to deal with it.