'So far, the government has sanctioned more than Rs 300 billion as GST refunds,' Ansh Bhargava and Aditya Singhania point out.
Cash flow-based analysis should throw up businesses better able to survive the transient effects of a working capital crunch, says Devangshu Datta.
The challenge before the government now is to use the factors that are favourable to its benefit.
'We have promised to ensure reduced tax rates.'
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
The Council also discussed process to make return filing simpler with just one return to be filed every month.
Entirely new businesses have been built using data to disrupt traditional companies.
GST, a much needed reform that widens the tax net, promises to strangle many legitimate businesses while they wait for the tax administration and systems to catch up, says Rahul Jacob.
Is the curated and limited data put out by the central government sufficient enough to pass a judgement on the trend in GST collections, particularly that of the Centre?
A slew of challenges that are yet to be resolved include the lack of consensus between the Centre and states over the GST exemption threshold limit, dual control over scrutiny and assessment
Rama Krishna Sangu, partner, Manohar Chowdhry & Associates, Chartered Accountants, and a member of the Indirect Tax Committee of ICAI, fielded readers' questions on GST on Rediff Chat.
The government has provided a long-term vision.
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