CAG for setting up of time-frame for roll out of simplified GST return forms
The controller and Auditor General of Asian nation (CAG) on weekday created a case for fitting a precise timeframe for the rollout of simplified GST come forms as frequent deferments area unit leading to a delay within the stabilization of the come classification system.
The GST come system remains a piece current despite quite 3 years of GST rollout, the CAG audit report given in Parliament same.
In the absence of a stable and simplified come mechanism, one among the most objectives of the rollout of GST i.e. simplified tax compliance system is however to be achieved, it said.
“During this audit, we have a tendency to noticed that attributable to the continued extensions within the roll-out of simplified come forms, and delay in deciding, the originally envisaged system-verified flow of ITC through ‘invoice matching’ is however to be enforced and a non-intrusive e-tax system still remains unimplemented,” it said.
It is suggested that a precise timeframe for the rollout of simplified come forms could also be fastened and enforced as frequent deferments area unit leading to a delay within the stabilization of come classification system and continuing uncertainty within the GST system, the report same.
The report additionally noted that tax collections multiplied by Rs 16,627 crore throughout FY20 over FY19.
However, it same there’s a declining trend within the annual growth of indirect taxes throughout the last 5 years.