ICAI Suggestions on GST to FinMin
The ICAI has, from time to time, submitted various Memorandums to the FinMin (GOI) for consideration in framing/ implementation of final GST laws, specially concerning the issues relating to Registration, ITC, RCM, Transitional issues, etc., as under:
Memorandum dt. 8 Nov. 2017
The ICAI has submitted 217 Suggestions to the Ministry of Finance, Govt. of India relating to Implementation Issues of GST Law(s)/ Rules(s) concerning Policy, Law and Procedural matters identified by it’s Members.
Memorandum dt. 28 Sept. 2017
The ICAI has submitted 122 suggestions on GST Implementation Issues, which have been segregated in 3 parts, namely Law Related Issues, Procedural Issues and GSTN related Issues. Out of which 10 suggestions are very important, which relates to issues like ‘Double taxation still happening in certain cases against fundamentals of GST, Implementation teething issues on GST, GSTIN related issues, Twitter or FAQ related issues, etc. as under:
Memorandum dt. 17 Aug. 2016
The ICAI has submitted a memorandum to FinMin containing 84 suggestions/ comments on the Draft/ Model GST Law, for their consideration while framing the final GST Law. The suggestions of ICAI on Model GST law are basically concerning the issues relating to leviability of GST, registration under GST, input tax credit mechanism under GST, transitional issues, etc., to make GST laws simple, fair, transparent and to avoid legacy of litigation.