February 21, 2019
STILL SCOPE FOR IMPROVEMENT IN GST: MEMBER, CBIC AT PHD CHAMBER OF COMMERCE AND INDUSTRY
Member, CBIC, Mr. Sandeep Bhatnagar on Thursday reiterated and assured India Inc. that there is always scope for improvement in the GST because the government of the day is pro actively engaged in making adequate and legitimate amendments to make GST good and simple tax.
Addressing a Conclave on “Important Changes in GST Law effective from 1 February 2019 and Practical Aspects of GST Annual Return (GSTR-9) / GST Audit (GSTR-9C)” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Bhatnagar on the issue of threshold limit of Rs.40,000, said that the Council exploring all legitimate possibilities to implement the threshold limit within the timeframe so that the industry could take maximum advantage of the decision.
On the issue of threshold limit he also said, “the process is that statutory arrangement is there in the federal system but I believe that so long the decision is beneficial one to the tax payers, the government should not be really bound by the statutes but we have to find possible solution to implement the decision”.
He assured that the government is working very hard to settle issues prevailing in the GST system and government is very keen to accept industry feedback and suggestions to make our system foolproof.
In his welcome remarks, Former President, PHD Chamber of Commerce and Industry, Mr. Anil Khaitan said that India should enhance and increase its tax base and revenue collection so that government could use the surplus to improve the quality of education and health sector.
Chair, Indirect Taxes Committee, PHD Chamber, Mr. Bimal Jain in his theme presentation though praised the government initiative to put in GST in right perspective and revealed that challenges are still there which need to be addressed and hoped that in due course of time many issues that still lay pending be resolved as per satisfaction of industry with clarification forthcoming on matters requiring clarity.
Among others who were also present on the occasion comprised Fonder & CEO, TIOL, Mr. Shailendra Kumar; Co-Chair, Indirect Taxes Committee, PHD Chamber, Mr. N K Gupta and its Principal Director, Mr. Abhi Narayan Mishra.
Koteshwar Prasad Dobhal