FTCCI holds interactive meeting with top GST officials
HYDERABAD, Nov 18 (The CIONNECT) –The Telangana State Government should increase the GST threshold limit to Rs 40 lakh turnover, as in many states, from the current Rs 20 lakh, Suresh Kumar Singhal, President of FTCCI, demanded. Telangana is the only state in India where the threshold limit is kept at Rs 20 lakhs, while all other states raised it to Rs 40 lakh, he said speaking at an interactive meeting with the top officials of both the state and centre of the GST organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI).
Sandeep Prakash, Principal Chief Commissioner, CGST & Customs, Hyderabad Zone; Syed Ali Murtuza Rizvi, Principal Secretary to Revenue (CT & Excise) & Commissioner of Commercial Taxes, Government of Telangana and Sahil Inamdar, IRS, Additional Commissioner of Central Tax, Medchal GST Commissionerate participated in the Open House Interactive Meeting on GST.
Representative of 15 Associations such as Bulk Drug Manufacturers Association; Telangana Iron and Steel Manufacturers Association; Telangana and Andhra Plastics Manufacturers Association (TAPMA); The Hyderabad Kirana Merchants Association Begum Bazar; CREDAI; Engineering Exports Promotion Council (EEPC); Telangana Tax Practitioners Association (TTPA); IT Corridor Hostels Association; Federation of Automobile Dealers Association; Spinning Mills Association; ICAI; ICMAI; Hyderabad Goods Transport Association and Telangana Builders Federation
In his opening note,
Some of the replies to questions were raised by Sunil Shroff of Telangana Iron and Steel Manufacturers Association on RCM(Reverse Charge Mechanism) on the purchase of scrap from unregistered persons Sandeep Prakash told them to carefully select the vendors after an in-depth study to avoid GST officials follow-ups.
On taxpayers being called regularly every month reminding them to file returns, and reversal of ITC(Input Tax Credit) raised by Kirana Merchants Association, Sandeep Prakash said that it is good to get reminders. They are helping you with compliance. You should appreciate their efforts. The officers are doing their job and they will continue to do their job, he added.
In reply to a question on speedy refund raised by the Engineering Exports Promotion Council(EEPC), Syed Rizvi agreed that the GST Refund shouldn’t take that long(more than 3 months) and assured that it would be expedited at the earliest.
On detention of Transport vehicles by the tax authorities without any valid reasons for three days especially in border areas which was causing financial loss to the industry, both the state and central GST officers responded positively and their problems will be looked into.
Mahidhar, Amarnath and other office bearers of the IT Corridor Hostels Association felicitated Sandeep Prakash and thanked him for his support in resolving Industry Grievances.
They thanked him for the support extended in taking forward the grievances of the industry members, particularly on the exemption granted for accommodation services up to Rs. 20,000 per month per person staying in P.G. Accommodations and Private Hostels.
Irshad Ahmed, Chairman of the GST & Customs Committee of FTCCI termed the Open House program as historic as they were looking forward to such an opportunity for the past seven years. This is the first time ever in this history both the top officials of the state and central GST jointly addressed a program.
Irshad said the program was organised to provide an opportunity to gain insights into the latest changes in the laws and get clarifications, if any. He added that it also offers an opportunity to give feedback to the authorities on the changes in laws and their impact on the business.
Many associations, trade bodies, and institutions and over 150 attendees participated.
