The objective of this blog is to address disputes arising from conflicting interpretations of GST laws, as also its scope and vires, having regard to the underlying intent and spirit, and to help in getting the same resolved through guidance. While from government side, Frequently Asked Questions have been clarified from time to time, the difficulties faced by the trade and industries can never be fully resolved.
Procedural requirements mandated by the new laws presuppose IT compatibility of assessees, irrespective of their stature,viz. large, medium or small, two months’ grace period notwithstanding. The challenge of implementation of SGST pertaining to service sector by States is likely to be onerous initially, given the state’s non-exposure to the complexity of classification, valuation, credit availability and taxability of services. Besides, the requirement of the filing of Monthly Returns to the States and the Centre as against erstwhile requirement of a quarterly Return to be filed to the Central authority (Service Tax Commissionerate) only would no doubt become burdensome for assessees in the beginning.
This blog will serve as an educational space on issues related to GST laws. It is not intended to be a substitute for legal advice for purposes of litigation.