India Inc prepared for GST rollout from July 1: CII
    India Inc prepared for GST rollout from July 1: CII - ETTelecom.com
    July 1 launch on; return timelines extended for July and August

    Amid doubts in some quarters over the tech preparedness for the (GST), the high-powered Council on Sunday decided to introduce the new indirect system from the midnight of June 30-July 1, but gave a relaxed timetable and exemption from penalties and late fees to industry while filing returns in the first two months.However, some states expressed fears that the relaxation given on filing returns would lead to a revenue loss for them.According to the relaxed timetable for filing returns, the assessees could file their detailed invoice-based returns by September 5 for July, Adhia said.However, some states, including Assam, feared that they would lose revenues due to the relaxed timeline for filing returns.

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