International Finance International Taxation
The Centre has proposed a settinga common dispute resolution scheme for settlement of cases in the proposed goods and services tax (GST).
It has also put up a suggestion for sharing of service centres between the Centre and states, besides common registration facilities for traders.
“It is proposed to prescribe a common registration form, common registration number, common return format, common service centres for acceptance of registration applications and return for Central GST and State GST,” Sushil Solanki, commissioner, central excise, said at a seminar on GST regulations at the American Chamber of Commerce on Monday.
"A common dispute resolution mechanism is being examined by the government for GST," he added.
“There should be harmonisation of business processes between the Centre and states with regard to registration, return filing audit and anti-evasion with information sharing,” he said in a presentation.
The industry has been asked to "suggest whether there should be a single rate or dual rate, positive list or negative list for service tax, levy of IGST on inter-state branch transfer, one registration for all units in a state or separate registration, point of incidence of tax, consignment sale and procedural simplifications."
The government is deliberating whether to impose tax at the stage of raising invoice, making payment, provisioning or supply of goods and services.
Source: Business Standards