Market - - Nov 14,2016
Individual and entities can pay their taxes online by using their debit and credit cards under the projected system of GST. Revenue Secretary, Hasmukh Adhia, said during global investors’ summit in Indore that traders can pay their goods & services taxes by using any bank’s debit and credit cards and also by making an online payment.
While addressing the global investors’ summit in Indore he cleared that, “You can use any mode of payment, electronic, NEFT, and RTGS”. Revenue Secretary Mr. Adhia also said that dealers never need to open an account in banks of regime. A tradesman can also transfer money from any private banks account and it will reach the government. The Goods and Services Tax Bill, officially known as ‘The Constitution Bill, 2014’ will be implemented by the Indian Government from the next fiscal i.e. 1 April, 2017.
According to government officials, The Constitution Bill will make it too easier for merchants and industry to access the tax input recognition, as well as simplicity in the compliance problem meanwhile the whole county will convert into a single marketplace. Revenue Secretary Hasmukh Adhia said that he would ask with the entire states to focus on the services zone because industry will come on its own once demand increases. Adhia said that the Goods and Services Tax Bill will also ensure that the taxes deducted by sellers reach the authority.
This was the second meeting after GST constitution, the Constitution Bill Council directed by Union Finance Minister Mr. Arun Jaitley permitted the five sets of draft guidelines connecting to registration, payments, returns and refunds under the Goods and Services Tax Bill. The submission of an application for online registration for citizens within three days and for the non-citizens who will come under the perimeter of the GST will be mandatory to submit the registration application through electronic at least five days before the inauguration of industry and shall also payment complete tax liability in advance. The registration process can be completed by an applicant by submitting the PAN, email address, a mobile number on the common web portal or through an assistance center.