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Showing posts with the label Chartered Accountancy

GST; What Changes would make it work

After several red flags in the way the GSTN functions, finally the Officials from the finance ministry have indicated that indeed these issues are being reviewed at the highest level. As a Chartered Accountant with my experience from Fortune 500 company wherein the end users were all highly qualified people, the systems need to be simple. In case of GSTN, the system was pretty simple in paper. However when we got to use it, the complications came out. The system is highly illogical or rather not tweaked to match the practical requirements of the stakeholders. Be it the registration or the backend access to the tax department officials. Changes that would make the system workable. 1. No Matching of Invoices. Currently the buyer and the seller has to match the sales and purchases. Though a very simple process it is highly resource consuming. Just imagine a single paise difference in invoice will lead to manually matching the invoice with at least 2-3 minutes of time being sp

GST Challenges and My views

I felt there is need to review the GST process in the GST website due to various issues cropping up. The issues can be segregated into Legal and Technical. Legal being the issues which require the GST Council to recommend and the Govt to act. The Technical issues being the ones which needs the change to be approved by the respective process owners. Though this looks very simple, the issue is that most of the issues we face today are both Legal as well as Technical. I will be updating my blogs by taking up 1 issue at a time along with my views and workarounds. Lets discuss the issues one by one. 1. The Site : gst.gov.in Lots and lots of efforts have gone in creating this application. (The front end what we get to see is the webpage). However due to high traffic the site is slow at times. We, the taxpayers & Professionals use the site for variety of reasons viz a. New Registrations b. Checking the Status of the Application c. Filing of returns d. Check

The People who made me a CA!

For him it was just another day.... I went to my uncles place in rayapuram. And after having a delicious lunch prepared by my grandmom, i was about to leave.... My uncle Suresh was there... He was just asking me about my plans for the future... i was not so sure about anything... may be i was thinking about starting my own textile mill after some time... But resources were tight.. He suggested that i should do CA.... Believe me, i had no idea how i can do... But he was right and he had shown me the road in which i am travelling..... Thank u Mama....   Suresh, PVS Lodge, Tirupur                                                   Nataraj Mama. If it was Suresh mama, who had given me the spark to do CA, it was Nataraj mama who MADE me a CA... Right from buying application till my Convocation it would not have been possible without his efforts and help. I can swear, i did pass CA bcoz of my uncle's confidence. I was not studying hard, but i was just trying to