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FICCI Reaction on GST Council Decisions
Jun 21, 2019
NEW DELHI, 21 June 2019: FICCI welcomes the decisions of the GST Council simplifying the process of registration using Aadhaar, extending the due date for annual return for financial year 2017-2018 to August 31, 2019, introducing a single return for all businesses to be rolled from January 1, 2020. This would indeed ease compliance.
Decisions regarding approval of electronic invoicing system and mandatory e-ticketing for multiplexes would certainly help in enhancement of revenue collections of the Government and curb evasion. It is encouraging that the Government would soon take decisions on proposals regarding rationalization of rates on certain items particularly electric vehicles, which would provide a big boost needed for this segment.
The thought process laid by the Government regarding its endeavor to bring more items in the ambit of GST regime including simplification of GST Rules and rationalization of rates is indeed a step in the right direction and would pave the way for simplification and stability under the GST regime.