Hours ahead of the big GST (Goods and Service Tax) launch in Parliament, Hasmukh Adhia,
Revenue Secretary in Arun Jaitley's Finance Ministry, sought to allay fears surrounding the new tax regime , and caution citizens against believing "misinformation."
Adhia, who has called GST both a technological and fiscal "marvel," spoke to the news agency ANI about the number of returns retailers will be expected to file every year under the new regime.
"People are saying that three returns need to be filed every month. No, just one. You (retailers) only need to fill out one return a month. The computer will make the other two," Adhia said.
"And composite dealers don't need to fill out a return every month, just once every three months. And that too, just the total turnover details," he added.
'NOTHING TO WORRY ON GST IMPLEMENTATION'
Adhia said there was no need for "big IT infra(structure)" to implement GST."Even B2B (business-to-business transactions) don't need big software. We will give free software," he said.
(We) will give an excel format for B2B, so they can keep invoice details updated and upload (them) every month on the 10th."
Adhia promised that GST, the largest tax overhaul since Independence, would provide benefits to "honest taxpayers."
The new regime - 'One Nation One Tax' - will be launched at midnight in New Delhi at an event attended by Prime Minister Narendra Modi and President Pranab Mukherjee.(Inputs from ANI)
