Bengaluru, Sep 22 : The Goods and Services Tax Network (GSTN) has directed its software vendor Infosys to design new forms for filing returns by traders, said its Group of Ministers Chairman Sushil Kumar Modi on Saturday.
"We have directed Infosys to design the new forms as suggested by the GST Council to simplify filing returns by traders on the network," Modi told reporters here after the 10th meeting of the GoM, held here to review the working of the network.
"We plan to roll out the new simplified GST returns form in the next 4-6 months for the benefit of dealers or traders paying the indirect tax through the network," said Modi, who is also Bihar Deputy Chief Minister.
The GoM has identified 18 companies across the country to develop a uniform accounting software for the smaller tax payers.
"The new software will be given to all small traders to ensure uniformity in filing GST returns," said Modi.
As decided by the GST Council, e-commerce firms will pay Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) with effect from October 1.
The Union government on September 13 notified October 1 for implementing the TDS and TCS provisions under section 52 of the Central GST (CGST) Act.
The e-commerce companies have to deduct TDS up to 1 per cent state GST and 1 per cent central GST on intra-state supplies of over Rs 2.5 lakh.
In the case of inter-state supplies of over Rs 2.5 lakh, the TDS will be 2 per cent of the integrated (state and central) GST.
The Council had earlier deferred implementing the TDS and TCS after e-commerce players like Amazon, Flipkart and Myntra expressed concerned on compliance burden.
Claiming that GST revenue was improving after the procedures and rules were reformed, Modi said revenue deficit of states had declined to 13 per cent from 17 per cent earlier.
"We are hoping the combined revenue will soon touch Rs 1.3 lakh crore per month with greater compliance by all the stakeholders," reiterated Modi.
The data and business intelligence by the network is helping the Council to track tax evasions and warn dealers filing fake invoices./Eom/365 words.
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Panaji (PTI): Goa Chief Minister Pramod Sawant has invoked the "cooperative federalism" principle while targeting the Karnataka government amid the Mhadei river water sharing dispute between the two states.
"They (Karnataka) speak about stopping the supply of vegetables or tourism inflow (to Goa). We never use such language. India can go forward with cooperative federalism. We are Indians first and Goans later," the chief minister told the legislative assembly on Friday after opposition leader Yuri Alemao claimed that Karnataka had threatened to stop vegetable supplies to Goa.
Goa and Karnataka are embroiled in a dispute over sharing the Mhadei river water. The BJP-ruled Goa has accused the Congress-governed Karnataka of planning to divert the river water by constructing two dams.
Sawant had said that the Goa government would file a contempt petition in the Supreme Court against Karnataka for carrying out activities that are aimed at diverting the Mhadei river water.
After the House passed the demands for grants for agriculture, Sawant said Goa has reduced the horticulture import by 30-40 per cent, whereas horticulture commodities' export has gone up by 20 per cent.
He stated that the state-run Horticulture Corporation has been procuring vegetables and fruits from farmers in various states and selling them through stalls.
The chief minister mentioned about a young farmer, Varad Samant, who has been providing vegetables of Rs 50 lakh every year to the state horticulture department.
"I have met this young farmer who is in his 30s. He told me that he earns a net 60 per cent profit from the vegetable supply business," Sawant said.
He said the government has focused on the agriculture sector. Citing the Swayampurna Goa Scheme, he said millet production is being boosted.
Referring to the demands of the Opposition, the chief minister said, rather than increasing support price for various products, the government is contemplating the possibility of providing a hundred per cent subsidy to farmers involved in community farming.
"65,500 farmers are registered with the department. They are eligible for facilities like Krishi card and Kissan credit card. They can now walk into the bank and avail of loan up to Rs 1 lakh. If any bank refuses to lend, tell me. Because the guarantee of your loan is PM Modi's guarantee," he added.