Page 11 - BF Cover February 2019

GST UPDATE

GST return defaulter to Govt, Institute of Cost Accountants to train 1 lakh ac-

be barred from generat- countants to boost GST compliance
ing E-way bill The Government of India, along with The Institute of Cost Accountants of India
(ICAI), is all set to launch a nation-wide GST-training
Non-filers of GST RETURNS for 6 con-
programme to train one lakh accountants in the country
secutive months will soon be barred
to enable them to deliver GST compliance, especially to
from generating e-way bills.
small and medium enterprises (SMEs) that are struggling
The GSTN is with compliance. The programme is expected to be
developing launched next month. "Entrance exams will be conducted
system such for the GST accountant course and those who are not professionally qualified as
that busi- of now to be GST advisers/consultants will be eligible for this programme", said
nesses who Amit A Apte, President, The Institute of Cost Accountants of India
have not filed ICAI president Amit A Apte said the Niti Aayog had proposed the programme,
returns for two straight return filing which aims to train one lakh GST accountants in around a year's time. Apte said
cycle, which is 6 months, would be GST compliance was a major issue for SMEs and they faced difficulties getting
barred from generating e-way bills, good consultants for GST compliance. "This course will help ease the supply of
an official said. accounting professionals who would enable them achieve compliance," he added.
"As soon as the new IT system which "The entire programme will be government-funded with ICAI as the partner.
will ensure barring of e-way bills gen- Entrance exams will be conducted for the GST accountant course and those who
eration if returns are not filed for 6 are not professionally qualified as of now to be GST advisers/consultants will be
months is put in place, the new rules eligible for this programme," Apte said. The year-long programme will be 80
will be notified," an official told. The hours long and will be conducted in three batches. ICAI will be training the train-
move, officials believe, would help ers and deliver the programme through 100 chapters and 300 extension cen-
check Goods and Services Tax (GST) tres across India.
evasion.
GST collection drops to Rs 94726 crore in December18
The move, officials believe, would GST collection dropped to Rs 94,726 crore in December 2018, lower than Rs
help check Goods and Services Tax 97,637 crore collected in the previous month. The total number of sales returns
(GST) evasion. Central tax officers or GSTR-3B filed till December 30, 2018, is 72.44 lakh, the finance ministry said
have detected 3,626 cases of GST in a statement. Compensation released to states for Au-
evasion/violations cases, involving Rs gust-September stood at Rs 11,922 crore.
15,278.18 crore in April-December
Of the Rs 94,726 crore collected, Central GST
period.
(CGST)collection is Rs 16,442 crore, State GST (SGST) is
Touted as an anti-evasion measure, Rs 22,459 crore, Integrated GST (IGST) is Rs 47,936 crore
e-way bill system was rolled out on and Cess is Rs 7,888 crore. The government has settled
April 1, 2018, for moving goods Rs 18,409 crore to CGST and Rs 14,793 crore to SGST from IGST as regular settle-
worth over Rs 50,000 from one state ment, it said.
to another.
Insurance cover for small GST traders soon
The same for intra or within the Central government is considering an insurance scheme for lakhs of GST regis-
state movement was rolled out in a tered small and medium scale traders. The scheme may provide accidental in-
phased manner from April 15. Trans- surance cover on the lines of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
porters of goods worth over Rs for the traders at an affordable premium. This could be based on the scheme
50,000 would be required to present being operated by the Uttar Pradesh government for traders. Sources said small
e-way bill during transit to a GST in- traders could get accidental insurance cover of up to Rs 10 lakh based on turn-
spector, if asked. over.

BANKING FINANCE | FEBRUARY | 2019 | 11