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17/04/2018 12:34pm

GST’s GoM to meet today, MSMEs eyeing at simpler return filing process-easy refunds

image GST’s GoM to meet today, MSMEs eyeing at simpler return filing process-easy refunds

New Delhi, Apr 17 (KNN) The Group of Ministers (GoM) responsible for looking into the progressions of the new taxation, is scheduled to meet today to further deliberate into the concerns of the different stakeholders. Ahead of the meeting, the micro, small and medium enterprises (MSMEs) are eyeing at simpler filing system, easy refund structure to be announced soon.

The GoM is to be headed by Bihar Finance Minister Sushil Modi. Non-Executive Chairman of Infosys Board Nandan Nilekani, officials from Central Board of Indirect Taxes and Customs (CBIC), along with Goods and Services Tax Network (GSTN) Ajay Bhushan Pandey are to be a part of the meeting.

Earlier, talking to KNN, Sunil Vaish, President of MSME Body Indian Industries Association (IIA) informed that despite the government making various changes, the GST is yet to become a simple tax.

“The MSMEs continue to face difficulties in filing their tax information, making an additional burden on the part of the MSMEs to hire a trained professional to take care of the filing”.

He informed that in most of the cases, MSME is a one man show, the entrepreneur is to take care of production, marketing and other duties.

The different stakeholders are eyeing at the government to reduce the number of return forms that are to be filed in a month.  Also merging GSTR-1, 2 and 3 forms as one of the options to simplify return filing is being eyed upon. (KNN/DA)

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