Tuesday, 4 July 2017

Meeting for query regarding GST Implementation at UCPMA

Industrialists and GST experts during meeting for query regarding GST Implementation at UCPMA
Industrialists and GST experts during meeting for query regarding GST Implementation at UCPMA
Ludhiana, July 04, 2017 (Online News Ludhiana): Under the leadership of Charanjit Singh Vishivkarma (President of UCPMA) a meeting held regarding upcoming problems of industrialists after implementation of GST with expert Sunitinder Singh Walia (Assistant Commissioner GST Commissionerate), Harsimrat Kaur (ETO Excise and Taxation Dept.), C.A. Ashok Bhatia (President Indirect Taxes Consultant Association), D.K. Sindhwani (Director Vardhman Group), C.A. Nitin Mahajan (Partner Bal Mahajan and Company), S.C. Ralhan (President Ludhiana Hand Tool Association) at UCPMA Conference room, Gill Chowk, Ludhiana.

The Goods and Services Tax (GST) is India's biggest tax reform since Independence. It is a single tax for the whole nation. It is a single tax on the supply of goods and services, right from the manufacturer to the consumer. The government aims to create a single comprehensive tax structure that will subsume all the other smaller indirect taxes on consumption like service tax, etc.

Petrol and Diesel are not under GST now but government will early implement GST slab on both. Taxes will be implemented more effectively since a network of indirect taxes like excise duty, service tax, central sales tax, value added tax (VAT) and octroi will be replaced by one single tax.

Harsimrat Kaur (ETO Excise and Taxation Dept.) said, "If any industrialist has old stock not more than one year, they can sale within six months but those industrialists who have older stocks have to deposit / report to department within 90 days."

She further added, "Due to some technical problems of department to create GST Number/ Password, businessmen who don’t have GST Number/Password, they can create VAT Invoice but after getting Number/Password they have to transfer VAT Invoice into GST Invoice.

"The GST is all set to change the way businesses have operated until now. The elimination of multiple levies and creation of a single market with fewer tax rates and fewer tax exemptions will improve the ease of doing business. However, these advantages are only going to be visible in the long run. At the moment, businesses are clearly unsure about what the immediate impact will be" she said.

Harsimrat Kaur stated that the department has started a helpline number for the GST Query 0161-2679136 that will work on all working days but department will start 24 hours Service for GST helpdesk soon.

In this Meeting, Gurmeet Singh Kular (Chairman), Avtar Singh Bhogal, Inderjit Singh Navyug (Sr. Vice President), Rajeev jain (Gen. Secretary), Rajinder Singh Pappu (Secretary), Satnaam Singh Makkar (Joint Secretary), Rajinder Singh Sarhali (Prop. Secretary), Achhru Ram Gupta(Finance Secretary), Harminder Singh Nova, Sohan Singh Goga, Surinder Singh Mapco, Gurcharan Singh Mankoo, S.S. Bhogal, Jeewan Kumar Sood, Swarn Singh Darera, Harminder Singh TSNS, Kamalinder Singla, Jaswinder Singh Birdi, Phoman Singh K.W were present.
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