Doubts not cleared yet about GST

Doubts not cleared yet about GST and should be discussed…….

2017 -2018 financial ended and in this year one of important and discussed bill passed i.e GST (Goods and Services Tax), it’s one of the most favourite topic of debate this year. Some are in favour of GST and some are against. But there are some topics which should be discussed:

  • Anti-Profiteering: Some companies like McDonald and Hindustan Unilever comes under anti-profiteering clause but the main issue in this is that there is no clear explanation of anti-profiteering in GST bill. Apart from this there is no explanation about, how long after new taxes changes in prices can be noticed as there is profit from lower taxes. As per the law of government there is a provision of punishment for the companies who keep tax difference as profit for themselves.
  • E-Way bills: E-way bills portal was designed, so that plug taxes leaks can be stopped. But on the very first day it crashed and taxpayers faced a lot of struggled to work on it. Again in this year new E-way bill was introduced on 1/April but big companies are not sure about this portal weather it can handle large volume of bills they have generated.