Despite troubles GST achieved milestones: Expert

Tribune News Service

Ludhiana, January 19

Pawan Kumar Pahwa, chairman, Taxation Sub-Committee, Punjab State Chapter, said introduction of Goods and Services Tax (GST) has been a noteworthy step in the field of indirect tax reforms in India.

He said despite teething troubles and confusion over the new law, the government crossed some crucial milestones with GST, said

Pahwa was addressing a seminar on GST audit and annual return- issues, approach and challenges organised by the PHD Chamber of Commerce and Industry in association with Konrad-Adenauer-Stiftung (KAS), Germany; Chamber of Industrial and Commercial Undertakings (CICU); Lawcrux Advisors and Federation of Industrial and Commercial Organisation (FICO) at Ludhiana.

Madhu Pillai, regional director, PHD Chamber, said all taxpayers registered under GST were required to furnish an annual return (GSTR 9) along with copy of audited annual accounts and GST audit report (GSTR 9C) for the financial year 2017-18 on or before 30 June, 2019.

“We are organising today’s seminar to provide tax payers the practical expertise to better understand and analyse how to fill up the forms.”

Pawan Garg, Deputy Excise and Taxation Commissioner, Ludhiana, answered queries of industry members.

Pahwa said the GST council in its 31st meeting held on December 22 proposed various amendments in GST law to remove ambiguities and glitches.

He said the council in its 32nd meeting has further proposed certain amendments to ease out business and trade of compliances under GST.

CA Vishal Garg, ex-chairman, NIRC of ICAI, made a comprehensive presentation on importance of GSTR 9; how to prepare annual return in form GSTR 9 and important aspects to be considered while preparing GSTR 9.