Two months for filing of GST returns, Ghaziabad traders confused on process

  • By Raju
  • | Monday | 19th June, 2017

As execution of one of the biggest reforms in Tax regime GST approaching nearer, confusion have been seen among mid and small traders in Ghaziabad. However, in a bid to address the anxiety of businessmen, GST council has given a relaxation of 2 months for filing GST returns. The move was taken to ensure that the transition doesn’t hurt small traders and others who may not be ready for the new regime.

As execution of one of the biggest reforms in Tax regime GST approaching nearer, confusion have been seen among mid and small traders in Ghaziabad.
However, in a bid to address the anxiety of businessmen, GST council has given a relaxation of 2 months for filing GST returns. The move was taken to ensure that the transition doesn’t hurt small traders and others who may not be ready for the new regime.

To know the ground reality in trade circle, Nyoooz talked to Ghaziabad president of Sanyukt Vyapar Mandal Pandi Ashok Bharati.

Bharati on a telephonic conversation said that traders oppose GST and taxes are too high. Trades, like furniture is going to face the hit most.

“There is lot of ambiguity on entire procedure, some seminars were held by the government officials but those were not fruitful. We are going to organize a meeting to make the strategy for further course of action,” he added.

The major decisions taken in the GST council meet in Delhi on Sunday:
* 12% of face value for those run by state governments
*28% for those authorised by state governments but run by private entities.
* Revised the levy for restaurants inside five-star hotels to the standard rate of 18% from 28%.
Also, the state border check post that collects taxes for movement of goods from one state to another was to be dismantled, but it seems this would not be the case.

Here are the major highlights on GST impacts on different sectors:
Automobiles
The price difference will be bigger for SUVs 55% to 43% compared to small cars 30% to 29%.
Life Insurance
While premium of term plans and non-life policies are taxed, only charges (mortality and AMC charges, etc) in other life policies attract GST.
Gold Ornaments :
Ornament making charges will be Rs 10,000. The yellow metal will become dearer.
Apparel :
GST on garments priced below Rs 1,000 has been brought down from 12% to 5%.

Meanwhile, the goods and services tax is all set to roll out from July 1.


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