GST Council’s Proposed Tax Relief Measures Discussed
The Singhbhum Chamber of Commerce and Industry recently held a tax clinic to address GST-related concerns and discuss proposed amendments to the tax structure.
JAMSHEDPUR – The Singhbhum Chamber of Commerce and Industry organized a tax clinic at its premises on Friday, focusing on recent GST Council proposals and potential relief measures for businesses.
Vice President of Finance and Taxation, Advocate Rajeev Agarwal, along with Secretary Advocate Anshul Ringsia, led discussions on proposed amendments to the GST Act and recommendations for the upcoming budget.
Key Discussion Points
The meeting addressed several critical issues regarding GST notifications and potential relief measures:
1. Clarifications on Section 73 notices for FY 2017-18, 2018-19, and 2019-20
2. Relief options for taxpayers with passed DRC-07 orders under appeal
3. Refund possibilities for those who have already paid tax, interest, and penalties
4. Implications for taxpayers who filed DRC-03 after receiving show cause notices
Future Consultations
Chamber General Secretary Manav Kedia announced an upcoming meeting with the State GST Secretary on July 2nd to discuss professional tax and works contract-related GST issues.
"We expect the CBIC to issue detailed circulars clarifying the implementation of these proposed changes after the budget," Kedia stated.
Expert Insights
A tax expert attending the clinic, speaking on condition of anonymity, shared, "The proposed amendments aim to provide relief to businesses facing GST compliance challenges. However, the timing of implementation, especially for FY 2019-20 cases, remains a concern as departmental actions may precede the notification of changes."
Open Forum for Businesses
Secretary Advocate Anshul Ringsia urged professionals and entrepreneurs to utilize the tax clinic for resolving their GST and other tax-related issues.
"The tax clinic is designed to be a platform for our members to seek solutions to their taxation concerns," Ringsia emphasized.
