SRI holds Workshop on GST, FISME put forth MSME related concerns
New Delhi, Dec 22 (KNN) Eyeing at exploring the different aspects of the Goods and Services Tax (GST) in the country, Speakers Research Initiative (SRI) recently held a workshop. The workshop was organized on 21st December in the national capital themed at the newly implemented One Nation One Tax.
Stakeholders from different sectors and industries were a apart of the meeting. Of the various speakers invited for the workshop, Anil Bhardwaj, Secretary General of the Federation of Indian Micro and Small & Medium Enterprises (FISME) participated in the meeting putting forth the different complications faced by the sector.
The Micro, Small and Medium Enterprises sector have had experienced teething effects, some of which continue even till date due to the change in the tax regime.
Bhardwaj also apprised the panel with the concerns of the MSMEs with regard to the implementation of the various norms of new taxation.
Bhardwaj in his presentation stressed on delinking input credit from supplier’s tax payment which will be the biggest relief to small businesses and MSMEs.
Delinking C-forms from Transitional Credit and waival of GST on advances received were the other issues raised by FISME Secretary General.
Arun Goyal highlighted the on some recent important decisions of GST Council like rationalization of tax rates, filing of quarterly return by SMEs with turn over less than Rs.1.5 Cr. etc.
Goyal also informed that the tax payers have also been exempted from payment of GST at the time on receipt of advance and mentioned about the uniform tax rate of 1%for manufactures and traders under composition scheme.
Prakash Kumar, CEO, GSTN mentioned about Status of IT infrastructure for GST portal.
He also mentioned that the GST Suvidha providers are being activated to provide necessary support to MSMEs.
During the discussions Members of Parliament appreciated the concerns raised by the MSME representative.
The workshop was inaugurated by speaker of Lok Sabha, Sumitra Mahajan earlier in the day. (KNN/ DA)