GST Council can look at hiking filing threshold beyond Rs 5 cr
New Delhi, July 23 : The GST Council could consider raising the threshold for quarterly filing of returns and monthly tax payments to above the Rs 5 crore turnover decided last week in order to facilitate smaller businesses to grow, acting Finance Minister Piyush Goyal said on Monday.
Besides approving rate reductions for 88 consumer items, the Goods and Services Tax (GST) Council, at its 28th meeting here on Saturday, announced quarterly return-filing and monthly tax payments for businesses with annual turnover of up to Rs 5 crore as against the current threshold of Rs 1.5 crore.
This move will benefit 93 per cent of registered GST taxpayers, while only 7 per cent of them will be filing monthly returns, Goyal said at a convention here organised by the Confederation of All India Traders (CAIT).
"The GST Council decided to raise the threshold to Rs 5 crore so that businesses that go over Rs 1.5 crore turnover do not face taxation hassles," Goyal said.
"I want trade and business to grow and flourish. If their business goes above Rs 5 crore, we are prepared to raise the limit even further," he said.
He also said that the simplified return forms approved by the Council required the assessee to only file the sales data and the amount of tax and input tax credit would be automatically indicated by the system.
The implementation of the revamped return filing process would take some time as corresponding changes would have to be made in the GST Network (GSTN), the Minister added.
The GST rate reductions and clarifications by the Council on Saturday will come into effect from July 27.
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Badlapur accused Akshay Shinde shot dead: Lawyer of minor girls calls it 'killing of justice'
Mumbai (PTI): The gunning down of Badlapur case accused Akshay Shinde on Monday was the "killing of justice", said Asim Sarode, lawyer for the two minor girls he allegedly sexually assaulted.
Shinde was killed near Mumbra Bypass around 6:15pm when he allegedly snatched the gun of a policeman while he was being ferried in a police vehicle as part of a probe into a case registered on the complaint of his former wife.
After he shot and injured an API, another personnel from the escort team fired at him, and he was declared dead by doctors at a nearby hospital.
"While representing the two minor girls, I noticed it was becoming uncomfortable for the local politics of the Thane district and even for the educational institution where Akshay Shinde was working. Shinde's death in such a manner is killing of justice," Sarode told a regional news channel.
"Now, the case of sexual assault of the two minor girls will get sidelined. The case of these two minor girls was becoming difficult for the educational institute, as it is affiliated with a certain political family. Such a practice would lower the confidence of people in police and the judiciary," he claimed.
Sarode said he will be filing a plea before the Bombay High Court demanding thorough inquiry into the firing incident.
"Shinde's case could have brought up certain aspects that would have been negative politically for the government. I wonder how Shinde could access the gun and how he could unlock it when his hands were tied. This is political murder and is absolutely wrong," he said.
