Attaching comments based on wider consultations with IIM A Alumni Chapters and on their behalf.

Thus it has views of several elite professionals. Wherever there is support from blog trail same are given, just to make sure that the views echo common businesses & professionals views as well. We IIM A Alumni professionals would have wished much greater participation...but are not unhappy either.

#GoodsandServicesTax, #MyGov Sir Bringin Internet services of mobile operators like AIRTEL etc, especially they are looting ignorant public in various ways. Eg. I bought Rs.300 talk time, i tried Net browising first time it charged Rs.50 for 1 minute, next few minutes total balance nil. It took me 2 years to understand logic,function of Smart phones etc (for MBA Technology mgmt studied) like this two or three times happened. NExt as a small customer i used to buy internet packs,that also same.

There is no need to have separate law for inter State Trade or Commerce. This is redundant concept. The economy need be shackle free to perform and not crowded with too many rule, regulation, procedure etc. The corruption in tax department is due to redundant law and procedure of visit, audit, registration, divisions and sub-divisions of tax payers. WE NEED HAVE SIMPLE LAW TRUST TAX PAYERS UNLESS IT IS PROVED OTHERWISE.
TAKE ACTION ON THE BASIS OF INTELLIGENCE ONLY BY COLLEGIATE OF OFFICERS.

make simple law,only GST not sgst & cgst.only invoice & e sugam no like Karnataka,no paper use,only in net.income tax add in gst.because 0.01% people pay 80% income tax

The SEZs, EOU are going to be impacted if there the GST Draft Bill in its current format becomes law. Under the current definitions IGST will become payable when an import is made into the SEZ or an EOU . Supplies from DTA into SEZ are treated as Exports . The definitions of Export and Import under the GST Act are aligned with the definitions of Export and Import under the SEZ Act.

Kindly give a reduction of tax to the customer those who are purchasing through debit/credit cards or any bank transaction.

presently there is no excise duty if turn over is below 1.5cr and also TOT dealer in states having turn over of Rs.40 lacs and also income tax law there is no require of audit if turn over is below Rs.1cr

is there any exemption limit in GST?
if not there should be as small dealers will pay 1% on Turn over of specified limit and input credit will not be available who are opting for TOT , this will be big relief for small dealers

It seems that GST is not going to revolutionise country's indirect tax regime..there are no genuine new propsals in the model draft. They have just clubbed together all Taxes, Duties and their provisions..Still there is time for the Government to propose entirely fresh GST Acts and laws there by incorporating "Ease of Doing Business" ethos in the statute...

At present we charge Excise Duty and Sales Tax in the Invoice...Now they are proposing CSGT(Excise) and SGST(Sales Tax).

Very complicated. There is no paradigm shift to make it easy to comply. Or use of technology to induce benefits that are rightful, compliance easy, removal of arbitrariness etc. While the intent seems good, the provisions suffer and new layers of misuse are created by way of distributors and their new powers to switch SGST to ISGST or CGST/IGST to IGST and so on. There are suggestions for common software, common and easy book keeping, returns taking input credits, traceability that merit conside

#IGSTChapV INPUT TAX CREDIT
The Input Tax Credit is indisible component of GST Chain. Seller/Service provider at each point of sale/provison is statutorily liable to pay GST. When Input tax Credit is linked to payment of tax at previous stage means that chaos in trade. No prudential purchaser would like to pay tax to seller. No seller would supply/provide goods/service without collecting tax since liability to discharge tax is caste upon him. Kindly see the file attached.