Key Interaction Meeting Between State and Central GST Officials Focuses on Tax Strategies
Hyderabad, November 19, 2024: The GST & Customs Committee of the Federation of Telangana Chambers of Commerce and Industry (FTCCI) organised an interactive meeting with the two top officials of both the state and centre of the GST.
Sri Sandeep Prakash, IRS, Principal Chief Commissioner, CGST & Customs, Hyderabad Zone: Sri Syed Ali Murtuza Rizvi, IAS, Principal Secretary to Revenue (CT & Excise) & Commissioner of Commercial Taxes, Government of Telangana and Sri 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
Giving his opening notes, Suresh Kumar Singhal, President of FTCCI, demanded that the Telangana State Government increase the GST threshold limit to Rs 40 lakh turnover, as in many states, from the current Rs 20 lakh. 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.
Though several representations were made to the earlier governments, Suresh Kumar Singhal, President of FTCCI, demanded that the Telangana State Government increase the GST threshold limit to Rs 40 lakh turnover, as in many states, from the current Rs 20 lakh. Telangana is the only state in India where the threshold limit is kept at Rs 20 lakhs, while till the issue is not addressed, he said and appealed to the Chief Minister and State Finance Minister and Mr Ali Murtuza Rizvi, IAS, Principal Secretary to Revenue (CT & Excise) & Commissioner of Commercial Taxes, Government of Telangana to consider their representation and increase the threshold limit from Rs 20 lakh turnover to 40 lakh for GST registration. He added that this would help many SMEs.
Some of the replies to questions were raised by Mr 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
Two tax veterans Thirumalai and PVSubba Rao were felicitated for their contribution to the profession.
Mr. Ravi Kumar, Senior Vice President Mr. KK Maheshwari and several office bearers of the FTCCI graced the occasion.