Wide-ranging revamp mooted to make GST less taxing

The GST committee put forward a wide range-ranging revamp of the reform that was put in place on July 1 to make compliance easier, said a report by Economic Times.

Some of the key measures proposed by the committee in its report to finance secretory Hasmukh Adhia on Tuesday are composition scheme for services, deferment of the e-way bill till 2019 and abolition of the reverse-charge mechanism, said the newspaper report.

The committee has reportedly suggested simplification of return forms and exclusion of exempted goods from aggregate turnover.

The report said that other suggestions include no interest charges on late payments and input tax credit for building and office infrastructure.

The panel also suggested allowing those availing of the composition scheme to engage in inter-state sales, the ET report added.

source:http://www.zeebiz.com/india/news-wide-ranging-revamp-mooted-to-make-gst-less-taxing-33007

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