The implementation of Goods and Services Tax (GST) has brought about changes in different spheres - documents filed by trade and industry, e-way bills, and also the way the units will be monitored and the new tax system will be implemented.
For instance, for businesses of more than ₹ 1.5 crore annual turnover, the GSTN will select those that will be monitored by the State Commercial Tax Department and those that will be monitored by the Office of the Commissioner of GST. Each of these two departments will cover 50 % of the businesses. In the case of businesses with less than ₹ 1.5 crore turnover, 90 % will be monitored by the Commercial Tax Department. The department officials will be monitoring system-generated notices, following up on the responses. Each unit (dealer and industry) will be rated according to the compliance and this will also be an indication based on which the officials will conduct inspections and audits.
The entire system will be in place by another 45 to 50 days when the assessees will start filing returns for the month of July, according to an official source.
According to an official at the Commercial Tax department, the geographical jurisdiction for monitoring the implementation of the tax system will remain. However, the documents will be filed online and hence, there will be system-based alerts, notices and monitoring.
Industry sources say having a completely online system will bring in even small vendors into the tax net. However, initially the micro and small-scale units might find it difficult to cope with a system that is completely online.
Reporting by
M.Soundariya Preetha thcbereporting@gmail.com
