SME Times is powered by   
Search News
Just in:   • Standardization boosts domestic growth, exports: Prabhu  • PM interacts with farmers across the country  • General Electric to be removed from Dow index  • Truckers' strike enters second day, northeast comes to 'standstill'  • Nadda releases India's health profile, launches institutional profiling project 
Last updated: 02 Sep, 2017  

mses-2010-thumb.jpg Register with GST system even turnover below Rs 20 lakh, PM tells MSEs

PM Modi
   Top Stories
» Standardization boosts domestic growth, exports: Prabhu
» PM interacts with farmers across the country
» Govt declares national targets for off-shore wind power
» 'Small industries must get in-hand training on Industrial security'
» Govt to spend $1 bn to boost services exports: Prabhu
SME Times News Bureau | 02 Sep, 2017
Prime Minister Narendra Modi on Friday asked taxmen, who even don't have turnover of Rs. 20 Lakh that are mainly micro and small enterprises (MSEs), to work towards registering under the Goods and Service Tax (GST) system.

He also said that the government was working towards creation of an environment which shatters the confidence of the corrupt and instills confidence and trust among the honest taxpayer.

"In order to enable all traders to take maximum benefit of GST, we should work towards ensuring that all traders, including even those with a turnover below Rs 20 lakh, should register with the GST system," he said while addressing the tax administrators of the Centre and states at a two-day 'Rajasva Gyan Sangam' organised in New Delhi.

He asked the officers to make efforts in this regard by designing a system for this category.

Currently, traders with annual turnover of below Rs 20 lakh turnover need not register under GST as they are exempt from paying any indirect taxes.

More than 17 lakh new traders have been brought into the indirect tax system within two months, Modi said adding that GST besides economic integration helps in bringing transparency in the system.

The Prime Minister also asked officers to use data analytical tools to proactively track and determine undeclared income and wealth.

In this regard, he also suggested complete reworking of human resource management in the tax departments to strengthen the data analytics and investigation wing.

"Human interface must be kept to a minimum in the tax administration's dealings. A push is to be given to 'e-assessment' and anonymity of proceedings using technology, so that vested interests do not impede the due course of law," Modi said.

He further asserted that the honest cannot continue to pay the price for the misdeeds of the dishonest.

In this regard, he mentioned steps taken by the government, such as demonetisation and implementation of stringent laws against black money and benami property.

He said that though efforts to increase tax revenue are made by officers each year, the estimated amounts of tax that should accrue to the system, are often not realised.

"The Prime Minister asked officers to come up with a time-bound solution to 'tax raised and not realised'," a statement cited Modi as having said.

Modi also expressed his dismay at the huge pendency of tax-related cases in adjudication and appeal.

He said big sums of money locked up in these cases could have been used for the welfare of the poor and asked officers to come up with an action plan during the two-day 'Rajasva Gyan Sangam' to eliminate pendency.

Exhorting the officers to improve their work-culture, to incorporate both a "sense of urgency" and "measurability" in their performance, he asked them to fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of independence.

The two-day 'Rajasva Gyan Sangam' would come up with concrete ideas to improve the tax administration, he hoped.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

black money
R Boopathi | Wed Sep 6 11:42:32 2017
It is great time that the top brass talks of black money. Has any one accounted black money handled by politicians at power, the government servant who dance at per their political bosses. Has any one questioned the person while on power. Go to any government office and name which govt office function without brief and for all the brief amount has any one given account and paid tax. pl name a politician at power or the government servant at authority, I will prove that he has black money. why politician want position , only to make more black money. more rules, more black money. only common man is attacked and tortured. our politicians shall create image of good values like MK Gandhi. Is there any leader to name in today's scenario. He preached simplicity in living. present man emphasize on Royal living which makes the man more corrupt and run behind money. May GOD send Gandhi one more time to get independence once again from our own people.

NATWARLAL BAHETI | Wed Sep 6 02:21:16 2017
But why honest be punished for the misdeeds of unhonest. GST punishes mostly to the honest. Unhonest still have their way .

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 21 Jun, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(22)
» Modi interacts with Digital India beneficiaries(1)
» Fiscal deficit, GDP data: Is it a turnaround(1)
» Lend more to MSMEs, RBI urges NBFCs(1)
» RBI's surprise rate-hike(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter