FIEO ORGANISED INTERACTION ON GOODS & SERVICES TAX (GST) WITH SENIOR GOVERNMENT OFFICIALS AT LUDHIANA

Ludhiana, December 9, 2017: Federation of Indian Export Organisations (FIEO) Punjab Chapter organized an "Interaction on Goods & Services Tax (GST)" at Ludhiana. The objective for the interaction was to address various issues faced by exporters, post GST implementation.

Mr Rajeev Gupta, IRS, Advisor (GST) Government of Punjab, Ms.Parul Garg, IRS, Joint Commissioner, GST Commissionerate, Ludhiana & Mr Pawan Garg, Deputy Excise & Taxation Commissioner, Govt of Punjab joined the session, interacted and address various implementation & regulatory issues under GST regime.

While addressing the participants Mr Rajeev Gupta said that, “The government agencies are working constantly for the progressive business needs of the country, all the GST concerned departments and agencies are working really hard for smooth implementation and processing of GST systems at the earliest. However, we do acknowledge that the GST has been a bumpy ride for all the stakeholders involved in it since its implementation. He also added that, “ as per one of the input from custom authorities, the refund of IGST paid on few shipping bills are not being released due to some error or mistakes on exporters end, while filling details on portals, such as different or invalid bank account number in customs, difference in EGM filed, different invoice numbers in returns and shipping bills, etc. Exporters or their service consultants need to be very careful while filling details, so that there should not be possibility of such mistakes and as the whole process will responds accordingly, also the refund of IGST paid exports is all electronic process, so if there is any error on exporters end it shall stands rejected automatically, till the exporters rectify it”.

While interacting Ms Parul Garg, Joint Commssioner GST, informed that the listing of divisions have been done and is expected to be published in next couple of days, this will help the exporters / industry members, as they will soon got to know their respective divisions and offer a great relief.

Mr. Pawan Garg, DETC, Govt of Punjab addressed and clarified the conditions and provisions of exemption scheme to procure material @ 0.1% by the exporters, also in such case the supplier shall be eligible to claim refund of ITC as inverted duty structure, procedure of which shall be shortly available.

Mr S C Rlahan, Immediate Past President, FIEO said that, “ The short term problems faced by the exporters in the GST has taken much of the credit from the most radical reform in the history of Indian taxation. While the business fraternity agrees that the GST will hugely benefit exporters and industry as whole in the times to come, with reduced cost of manufacturing and cost effective efficient logistics chain, the ongoing technical and procedural challenges during are to be addressed on a war footing”.

Mr Rahul Ahuja, Convener, FIEO Punjab State Committee, shared his views and said that, “The GST which is believed to be one of the major reforms in Indian tax regime and a big step in business arena of Indian economy. GST has replaced many Indirect Taxes in India and now is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. In the long GST will surely help uprising of Indian economy, however, due to the ongoing technical or few no- technical procedural snags, the businesses across the country are surely suffering to a great extent, however, as this transitional phase gets over which is still expected to get extended by more a quarter or two, the GST will greatly benefits the overall scenario of country and its economy.

The session was well attended by close to 150 representatives from prominent business houses from the region.