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Dear Finance Minister,  

Sub: Some Amendments in GST Act & Rules to Ensure GST is a Success 

1. Forms to be Notified  

• For Rules Notified: The rules notified earlier have provided formats which are in the process of revision esp GST Return Related Rules. A period of 3 months from the date of finalizing formats be provided to design/ configure the ERP/ Accounting systems.  
• For Rules Not Notified: The new rules have been notified without the formats- these formats...

Background  

Under present State sales tax laws goods moving from place to place or State to State have to pass through several checkposts. The greater the number of checkposts to be crossed, the greater the delay, cost and unhappiness for the tax compliant dealer. This results in more documentation and increased cost of compliance.  

 The check posts are needed to check the non payment of tax. However when the fence itself eats the sheep ( thos in charge are...

GST bills have been passed by Loksabha as well as Rajyasabha. It is very likely that the law would get implemented from 1st July 2017 unless there is strong resistance from trade and others on account of time required for preparation. Mainly due to changes required in information technology systems. It is important for businessmen to understand the impact of GST on their business. Anti-profiteering clause is one important aspect which needs to be understood at this stage which could have...

This article is based on the GST Bill 2017 which was released in public domain in last week of March 2017.  

Background  

There seems to be a doubt in assesses who are registered under central excise and service tax, whether the unutilized credit in excise and service tax returns can be c/f into GST and used to pay the output tax liability under GST.  

The paper writer makes clear that under transition provisions of GST law, the accumulated cenvat credit...