Rs 20 lakhs threshold limit under GST will benefit SMEs: Sisodia

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SME Times News Bureau | 27 Sep, 2016
Government of Delhi is proposing to do away with minimum threshold experience limit for registering as government contractor, which will be a big boost to Start-ups, said Manish Sisodia, Deputy Chief Minister of Delhi during the Special State Plenary on Delhi at the CII 5th Invest North 2016 organised by CII in partnership with Department of Industrial Policy & Promotion (DIPP), Government of India in New Delhi.

In the initial stage this is being done for civic work and later expanded to other sectors, he added.

GST Council is expected to keep the VAT and Service Tax threshold limit at Rs 20 lakhs, which will significantly benefit the small businesses & traders of Delhi informed Sisodia.

The Government of NCT of Delhi is working towards making the process for approval and sanctions online, one such endeavour was taken up last year for the benefit of event management sector. Taking the process to next level, now the State Government has done away with physical submission of T1 & T2 form. We have asked the traders to share through details regarding the vehicle registration number and details of the commodities through SMS information for easy entry of goods into the city.

To promote Delhi as a millennium city, the Delhi Government may consider focussing on better waste management and world class infrastructure, said Rumjhum Chatterjee, Chairperson, CII Northern Region. Speeding up the development of special road network encircling the city dedicated for commercial vehicles should be taken up in priority and on fast track mode, she added.

Seeing the rapidly changing climatic conditions, time is ripe to put special emphasis on roof-top solar, as this will reduce load on grid as well as reduce the T&D losses, said Rahul Munjal, Managing Director, Hero Future Energies Ltd.

Echoing the similar view, Aditya Berlia, Member - Board of Management, Appejay Stya Group said that Delhi can be big hub of clean energy industry such as IT, Design etc.

Special State Plenary on Delhi was part of the ongoing 5th edition of CII Invest North which concluded on Friday on a successful note.

Invest North 2016 was partnered by Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, GoI and States of Haryana, Himachal Pradesh, Punjab, Rajasthan, Jammu & Kashmir and Uttarakhand. Over 750 delegates from across the country and diplomats from over 35 countries participated in the event, to explore investment opportunities in various northern states.

In addition to the State Sessions and one to one meetings with potential investors, focussed sectoral sessions were also organised – these were Opportunities in Defence Manufacturing, Renewable Energy, Start-ups and E-Commerce & Global Engagements for Growth. In total, over 75 experts addressed the State Plenaries and Sectoral Plenaries.

The one-to-one meeting with the State Government was the major highlight of Invest North 2016. Around 90 meetings were organised for the industry / investors with the Governments of Haryana, Himachal Pradesh, Punjab, Jammu & Kashmir, Rajasthan and Uttarakhand. The State Governments were represented by officials and policy makers at the highest level. In addition, over 200 B2B meetings amongst the corporates were also organised in the sidelines of Invest North 2016.