{"id":34771,"date":"2018-10-31T13:15:04","date_gmt":"2018-10-31T07:45:04","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34771"},"modified":"2018-10-31T13:15:04","modified_gmt":"2018-10-31T07:45:04","slug":"steadying-hand","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/steadying-hand\/","title":{"rendered":"Steadying hand:\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-opinion\/steadying-hand\/article19798899.ece\"><span style=\"font-weight: 400;\">Steadying hand<\/span><\/a><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<p><b>Context<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Goods and Services Tax Network (GSTN) is bracing itself for a \u201cbig challenge\u201d set to emerge in the coming weeks as a ministerial panel Wednesday ruled out any further extension for filing GSTR 1 returns by traders. As it has been extended three to four times.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sushil Kumar Modi, head of the five-member panel constituted to resolve the technology glitches being faced by traders on the network. <\/span><\/p>\n<p><b>Challenges <\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GSTR 1 is outward and sales and GSTR 2 is purchase. It is auto-populated. Then there will be a matching of invoices of GSTR 1 and 2 which is a challenge<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In GSTN, more than 90 lakh of taxpayers are registered but 90% of revenue is coming only from four lakh taxpayers. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">For the month of July, 52 lakh dealers have filed the returns. But the detailed GSTR 1 has been filed by only 33 lakh, 43,000 dealers.<\/span><\/li>\n<\/ul>\n<p><b>GSTR deadlines<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The GST Council, in its September 16 meeting, had fixed <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">October 10 as the deadline for GSTR 1 relating to supplies made,<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">October 31 for GSTR 2 relating to purchases, and <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">November 10 for GSTR 3, a comprehensive one for the month of July.<\/span><\/li>\n<\/ul>\n<p><b>Way out provided by panel<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The tax network system developed by Infosys is capable to handle a large number of returns. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Infosys would send a team of qualified technicians to coordinate with the State tax administration to speed up and resolve technology issues<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are 27 States which constitute the Model 2 States. Model 1 States, like Karnataka, have developed their own backend. Model 2 States have had a problem creating the backend. Last meeting, we requested for developing a software for Model 2 States.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Now everything is automated. So, there will be no or minimum human intervention.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Steadying hand:\u00a0 Context The Goods and Services Tax Network (GSTN) is bracing itself for a \u201cbig challenge\u201d set to emerge in the coming weeks as a ministerial panel Wednesday ruled out any further extension for filing GSTR 1 returns by traders. As it has been extended three to four times. Sushil Kumar Modi, head of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/steadying-hand\/\">Continue reading <span class=\"screen-reader-text\">Steadying hand:\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34771","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704801828},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34771"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34771\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}