BBIA Jammu seeks exemption on audit for micro and small units with Rs. 500 lakh sales turnover
Jammu, 6 Dec (KNN) A delegation of Bari Brahmana Industries Association (BBIA) Jammu met Mahesh Kumar Rastogi, Principal Commissioner, CGST, Jammu and Rakesh Kumar, Additional Commissioner, Income Tax Department, Jammu in the sidelines of the Outreach Programme organized by CGST, Jammu & Income Tax Department, Jammu, as per the release.
Lalit Mahajan, Co-Chairman Federation of Industries, Jammu & President, Bari Brahmana Industries Association led the delegation in the presence of Vivek Singhal, Treasurer of BBIA Association.
Mahajan spoke about the pending refund cases of Inverted Tax Credit, delay in the release of sanction orders in respect of refund of IGST/CGST under the Budgetary Support to Industrial Sector, E-way Bill issue for the dispatch of Goods to Hilly Areas due to Road Blockage and other unforeseen circumstances in J&K.
He also pressed on enhancement of exemption limit from the preview of audit for the sales turnover upto INR 500 lakh for Micro & Small Scale Units on the gross sales turnover, Mismatch of TDS Credits issue related to old cases prior to Online submission of Returns by the Assesses resulting in unnecessary harassment being faced by the industrial units and difficulties being faced for one filing of form No.5 while uploading the Returns, Refund of Excess Tax Deposited
Mahesh Kumar Rastogi, Principal Commissioner, CGST, Jammu & Rakesh Kumar, Additional Commissioner, Income Tax Department, Jammu assured the Delegation to resolve the issues on priority basis which will provide great relief to Industrial Sector of J&K.