Program on New GST Return
by Shrutee K/DNS
The Indirect Tax Committee of the IMC led by past President, Ms Bhavna Doshi organized an interactive training program on New GST Return on December 17 at IMC. The program was conducted by senior officers of the department, led by Dr Girish Nehete, Jt Commissioner, LTU(1) , Mr Megharaj Deore, Dy. Commissioner and return (subject matter expert), Mr Chetan Doke, Dy Commissioner and return (Addl. subject matter expert), Mr Deepak Dangat, Asst. Commissioner and Co-SME, and Mr N K Dighe, Asst. Commissioner and Co-SME.
IMC had earlier made representations for simplification of process for ease of filing of returns and the program of 17th Dec was step towards understanding the new system. The GST officials explained the various technical aspects of the new Sahaj and Sugam formats of the scheme to make filing simpler and easy to comprehend. These two schemes have taken into account all formats of transactions under the B2B and B2C mode as predefined financial turnover. One of the significant introduction under the new scheme is the filing of a Nil return through the SMS mode, which was hugely appreciated by the participants as a major step in ease of filing. The new format also has dealt with practical difficulties faced by the vendors and filing entities in cases of errors and late submissions.
The workshop was attended by over 160 finance and taxation professionals who discussed intricate case studies for better understanding of the new GST Return to be effective from April 2020.
About IMC : Set up in 1907, IMC is an apex Chamber of trade & commerce with headquarter in Mumbai. It has about 2700 direct members, comprising a cross section of the business community, including public and private limited companies and over 215 trade and industry associations through which the Chamber reaches out to over 2,50,000 business establishments in the country. IMC is the first Chamber in India to get ISO 9002-2000 certification which has since been upgraded to ISO 9001: 2008. IMC is the only business Chamber in India where, the Father of the Nation, Mahatma Gandhi, was associated as an honorary member.