Tuesday, 25 April 2017

Make paperwork under GST simple, says advocates' body

A body of tax advocates today asked Finance Minister Arun Jaitley to make procedures and paperwork related to the upcoming Goods and Services Tax (GST) regime simple and less cumbersome. The draft GST rules have prescribed detailed paperwork for maintenance of records for GST purposes, which are highly complex and cumbersome. 

This will cause immense problem and hardships to assess, especially small traders and businessmen," All India Tax Advocates Forum President M K Gandhi said. Under the draft rules, detailed records are to be kept not only by suppliers of goods or services, but also by intermediaries such as warehouse owners, transporters, and agents. In addition to goods sold, they have to also track stocks given as free sample or gifts, Gandhi said in a statement.

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