GST Council Extends Migration Windows for Taxpayers, Simplifies Process for Filing GST Returns
The Goods and Services Tax (“GST”) Council has, on July 21, 2018, recommended to open the migration window (the period allowed for entities to move to GST) for taxpayers, who received provisional IDs but could not complete the migration process. The taxpayers have been advised to approach the jurisdictional Central Tax/State Tax nodal officers with the necessary details on or before August 31, 2018.
Furthermore, the GST Council, on July 21, 2018 approved the simplification of the process of filing GST returns. Small taxpayers having a turnover of up to INR 5 Crore will have an option to file quarterly returns with monthly payment facility. Further, the nil-return filers, who have no purchase or sale, shall be given facility to file return by sending a text message via SMS.
NAA Directs Audit of E-Commerce Companies
The National Anti-profiteering Authority (“NAA”), in its order passed on July 18, 2018 in the case of Sh. Rishi Gupta vs. M/s Flipkart Internet Pvt Ltd, examined whether e-commerce companies are passing on the benefits of GST-induced lower prices by quoting aggregate lower prices for products to the end consumer. In order to do this, the NAA directed the Director General of Audit, Central Board of Indirect Taxes and Customs to audit all major e-commerce companies and submit a report to the NAA.