RETAIN EXEMPTIONS FOR INFRA SECTOR EVEN POST GST: PHD CHAMBER

RETAIN EXEMPTIONS FOR INFRA SECTOR EVEN POST GST: PHD CHAMBER

RETAIN EXEMPTIONS FOR INFRA SECTOR EVEN POST GST: PHD CHAMBER

 

No.PR-136
December 1, 2016
New Delhi
 

RETAIN EXEMPTIONS FOR INFRA SECTOR EVEN POST GST: PHD CHAMBER
 

PHD Chamber of Commerce and Industry on Thursday urged the Finance Ministry to continue tax exemptions and other such facilities for power,  construction, real estate and the like even post GST since these sectors are critical for all round development of Indian economy & infrastructure and its national GDP as well.
 

The Chamber has also advised the government to bring in the model GST Law as can be devoid of and free from tax cascading that improve ease of doing business at a time when the government is committed to improve on this front for larger economic engagements from both overseas and domestic investors.
 

The aforesaid recommendations have come at a Conference on Implications of GST on Infrastructure & Construction Sector under aegis of PHD Chamber of Commerce and Industry here today which was president over by its Senior Vice President, Mr. Anil Khaitan in which the key speakers consisted of the Chamber’s Chairmen of Indirect Taxes Committee and Roads, Ports & Other Infrastructure Committee, Mr. Bimal Jain and Mr. Ashish Mohan Wig including Founder CAS Associates, Mr. Anil Sood.
 

According to Mr. Jain, the PHD Chamber which have been interacting with various functionaries of the Finance Ministry on the issue of GST has already emphasized the need that post GST, the key segment of infrastructure sectors should continue to enjoy the existing tax exemptions including input credit to retain the vibrancy of the sector for its further growth and multiplications.
 

He also stressed that the national infrastructure and port etc. would accelerate with retention of exemptions post GST without adversely affecting the government exchequer in terms of revenue collections as alternates are available in GST statute to make up for lost revenue on this front.
 

Mr. Jain also advised the audience present that those engaged in construction and building activities need to register themselves in all states wherever supplies of goods or services i.e. from centralized registration to decentralized registration of services.
 

Mr. Anil Sood in his observations felt that GST code should be such as could not lead to double taxation as also facilitate placement of healthy business practices for comforts of both government and industry.
 

The Senior Vice President, PHD Chamber, Mr. Anil Khaitan in his remarks felt that the trust deficit that has grown up between the government and industry should be narrowed down for the growth of country and its future generation.
 

Ends.

Koteshwar Prasad Dobhal
Consultant (PR)