Addressing an interactive session on Recent Developments & Practical Issues under GST organised by the PHD Chamber of Commerce and Industry in collaboration with Konrad-Adenauer-Stiftung(KAS), Germany here today at Amritsar, Jaideep Singh, Convenor-Amritsar Chapter, Punjab Committee, PHD Chamber said that the introduction of the Goods and Services Tax has been a very noteworthy step in the field of indirect tax reforms in India. Despite teething troubles and confusion over the new law, the Government crossed some crucial milestones with GST, he added.
Speaking on the occasion, Chief Guest, Shri S K Rahman, Additional Director General GST New Delhi appreciated the Trade and Industry in Punjab for embracing GST and stated that compliance levels are high and return filing percentage continues to be high for the State of Punjab.During his address he shared provisions in new return format. He informed that several legal changes have been approved in last council meeting. The effort is to reduce compliance burden and complexities. He also addressed various queries and issues faced by the Trade and Industry under GST and also mentioned that we are open to take up any suggestions for any changes required under the GST law.
The Government is ready to debate on any suggestions and there is a clear understanding that what can be done, should be done.Shri G S Bains, Joint Commissioner, Jalandhar, GST Commissionerate; Shri Balvinder Singh Dhaliwal, Deputy Commissioner,GST Amritsar Division I; Shri Rajesh Kumar Meena, Asst. Commissioner, Central GST Amritsar Division II; Shri Harinderpal Singh, Deputy Excise and Taxation Commissioner (DETC) Amritsar, Department of Excise and Taxation, Government of Punjab; Smt. Amandeep Kaur, AETC Amritsar Division I and Shri Rajpal Singh, AETC, Amritsar Division II were also present on the occasion and answered the queries of the industry members.Shri Praveen Kashyap, Director, Grant Thornton India LLP’, the Knowledge Partner for the event said the practical challenges being faced by the industry such as anti-profiteering and e-way bill shift the focus on to the compliance and administrative glitches in the GST law.The Government needs to lay better emphasis on making GST simple, clarifying the ambiguities and industries need a proactive approach towards annual return and GST audit.Shri Adarsh Gupta, Manager, Grant Thornton India LLP presented the challenges faced in GST Audits and industry’s preparedness for the same.Queries and various issues on GST were discussed at length during the interactive question and answer session.More than 50 industry members from TMA; Shawl Club; Food Processing industries Association; Warp Knitting Association; Amritsar Computer Traders Association and professionals from in and around Amritsar attended and benefited from the programme.