New GST Re­turn Fill­ing Sys­tem is a Wel­come Move, but In­dus­try Pre­pared­ness a Must

FICCI Business Digest - - Policy Monitor -

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.

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