Weekly Roundup – India GST News & Updates you need to know
- Jan 3, 2020 | Divita S Gupta
The Healthcare Federation of India urges Government for zero rating GST for healthcare services and other GST updates under #GSTThisWeek.
Aadhaar to be made mandatory for GST
The GST Network has decided to make Aadhaar authentication or physical verification mandatory for new dealers from January 1, 2020, to keep malpractice in check. This is because there are currently 66.79 lakh new dealers registered under the Goods and Service Tax who are contributing to just 15% of the total revenue under the tax regime.
CBIC issues Standard Operation Procedure to deal with non-filers
Non-filing of Goods & Services Tax returns may lead to attachment of bank accounts and even cancellation of registrations. This is part of the Standard Operating Procedure (SOP) issued by the Finance Ministry to be followed in case of non-filing of returns. The GST law makes it mandatory for a registered person to file returns either on a monthly or on a quarterly basis (supplier opting for composition scheme). An Input Service Distributor will have to file monthly returns showing details of credit distributed during the particular month.
Need zero rating GST on health services says NATHEALTH
As a part of the pre-recommendations for Budget 2020, the Healthcare Federation of India (NATHEALTH) has urged the Government for bringing in zero-rating GST for healthcare services and making it a priority sector to meet its long-term funding and financing requirements. In its pre-Budget recommendations, NATHEALTH has also called for building capacity in tier-II and III cities which will cater to the growing demands of quality healthcare in rural areas of India. The expectation is to focus on the incentives for medical value tourism, zero-rating GST on healthcare services and health insurance premiums.
For more information on GST and GST Compliance, visit www.avalara.com
Avalara is an experienced application service provider (ASP) and partner of authorized GST Suvidha Providers (GSPs). To understand how our cloud-based application Avalara TrustFile GST can help you with GST compliance automation, contact us through https://www.avalara.com/in/products/gst-returns-filing