Thursday, August 09, 2018

Under India's GST tax system, filing multiple returns monthly is too time-consuming - it's an unnecessary burden [COMPACTIDEA]

It would've been better if the government had kept tax returns to quarterly intervals - as before - rather than monthly. No real useful purpose is served by making returns monthly [will the government tomorrow ask us to file returns weekly?]. Workload has increased considerably. It's almost like the government disallowing a cheque of INR 10 lakh, and asking us to instead issue 10 separate cheques of 1 lakh each. What could've been filed once every quarter has to be filed three times each quarter. What's the point?

Instead of focusing on production, procurement, quality, sales, marketing, new product development, and infrastructure, businessmen are having to waste their precious time and energy on bureaucratic hassles introduced by the Indian government [the latest being E-Way Bill]. These ministers and politicians sitting in legislative buildings have zero idea of how a business or a factory is run, and yet they get to decide how everyone in India does business. Couldn't be sadder.

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