Taxpayers who do not file GST returns for two months until the June 2021 or June 2021 quarter cannot produce the e-way bill from August 15, the GST network said. Experts say the move will help boost the Goods and Services Tax (GST) collection in August, as pending GST returns are expected.
Last year, the Central Indirect Taxes and Customs Board (CBIC) abolished the ban on the production of electronic e-way bills for non-filers, providing compliance relief during the COVID epidemic. The government has now decided to reinstate the ban on the production of e-way bills on the EWB portal for all taxpayers with effect from August 15.
The PhD Chamber advocates a three-stage GST framework
Industrial firm PhD Chamber of Commerce has demanded a three-tier GST tariff structure with an 18 per cent higher rate to increase use and curb tax fraud. The Goods and Services Tax (GST) currently has a four-rate structure. Under this, essential goods are exempt from the GST, with some goods being taxed at the rate of five per cent. The maximum rate is 28 percent. Other slabs of tax are 12 and 18 percent. In addition, GST is charged at three per cent on gold, silver and polished diamonds.
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PhDCCI president Sanjay Agarwal said the ideal GST structure should have two to three slabs. “We suggest that GST is at least 5 per cent, 12 per cent moderate rate, 12 and 18 per cent class and 18 per cent highest for luxury and socially disadvantaged goods.” It will help to make GST better and simpler. A simplified tax system is needed to reduce tax matters.
