The week long GST Week celebrations by the State Taxes department concluded today with a panel discussion aimed at enriching officers and officials with a deeper understanding of the Goods and Services Tax system.
The panel comprised of Commissioner State Taxes J&K, Dr. Rashmi Singh; Additional Commissioner, TP&AR Ankita Kar; Additional Commissioner Kashmir, Shakeel Maqbool; Ex-Commissioner State Taxes J&K, Kifayat Hussain Rizvi; Director DD News Srinagar, Salman Qazi; VC LCMA, Bashir Ahmad; Dy. Commissioner Income Tax, Shakeel Ahmad Ganai; Chief Area Manager Railways, Saqib Yousuf; Registrar of Companies, Hamid Bukhari; Amrinder Singh, Deputy Director ED, and Musadiq Basu in-charge Cyber Crime Investigation Centre.
The discussion was attended by Deputy Commissioner Enforcement (Central) Kashmir, Deputy Commissioner IT, Analytics & Economic Intelligence, Assistant Commissioners, State Tax Officers and other officials of the department.
The panel discussed various aspects of GST and its positive impact on the economy, challenges faced in transition from VAT to GST regime, significance of awareness initiatives, importance of cross sectoral and cross departmental approaches, sectoral specific implications of GST, simplification of GST framework and measures to improve compliance, advancements in technology driven tax administration, vibrant and robust dispute resolution mechanism, impact of reach-out programmes, fake ITC menace and ways to curb it, role of SIU and Audit in enhancing compliance among other issues.
“The panel discussion enables better understanding of the GST framework, its benefits, challenges, and the way forward. There is a need for more collaboration and coordination between various departments involved in the GST ecosystem.
Close interaction and information sharing between State Taxes Department, CGST authorities, Income Tax Department, financial institutions and other stakeholders ensures efficient enforcement, prevents tax evasion and facilitates seamless compliance”, said Commissioner State Taxes J&K.
Director DD News Srinagar said that, “timely and comprehensive dissemination of information plays a vital role in ensuring businesses understand their obligations, reducing compliance challenges, and encouraging voluntary compliance.”
Additional Commissioner Kashmir elucidated the need for eradicating the menace of fake ITC. He said that, “the department has adopted a multi-pronged strategy involving robust and real time information sharing mechanism with various departments, diligent application of AI, Machine Learning, BIFA, economic intelligence, Audit, awareness campaigns etc.”
The event also witnessed distribution of mementos to taxpayers who were selected as a result of Draw of Lots for better compliance, proper billing and e-Invoicing.As a token of appreciation for their invaluable contributions, an award ceremony was held, where certificates of appreciation were presented to all the members involved in ensuring the successful conduct of GST Week.
This gesture aims to acknowledge the dedication, hard work, and commitment of all the officers involved in smooth conduct of all events regarding GST Week Celebrations", said Deputy Commissioner Enforcement (Central) Kashmir.