SME Times is powered by   
Search News
Just in:   • India should start a Well-Being Index   • Export sector concerns  • US Senator Sanders launches second presidential bid  • Sensex ends lower for ninth consecutive day  • Odisha approves investment proposals worth Rs 1,197.41 cr 
Last updated: 06 Jul, 2018  

gst-thmb.jpg 'Industry must give suggestions to resolve glitches in GSTN'

   Top Stories
» Proposal to encourage investments in startups cleared
» Startup initiative SWAYATT launched on GeM
» Cabinet approves continuation of Khadi Gramodyog Vikas Yojana
» Prabhu addresses stakeholder consultation on Draft Logistics Policy
» India to use AI for good governance: Prabhu
SME Times News Bureau | 06 Jul, 2018

The Goods and Services Tax (GST), India’s biggest reform in indirect taxes still remains a work in progress even one full year after its implementation as there are certain glitches in the network that need to be resolved, a top Telangana Government official said at an ASSOCHAM event held recently.

"I see that second year will bring a lot of stabilisation to the GST," said Somesh Kumar, principal secretary (commercial taxes & excise), Government of Telangana while inaugurating an ASSOCHAM National Conclave on GST.

"One of the highlight of the GST was that there will be invoice matching which will be possible, unfortunately the GST Network (GSTN) has not been able to provide this facility," he said.

"Sometimes we want to do lot of data analytics in Telangana but we do not get the full data, as we would like from the GSTN," added Kumar while presenting a report card on first year of GST.

While he hailed the GST Council for showing lot of maturity with rapid response on emerging needs, Mr Kumar said, "On GST Network I have my reservations, they could have done much better. Today, if there is any criticism of GST it is not on GST per se, it is on the network, its inability to respond and various problems that we face."

He also pointed out that TDS which is supposed to be put on all government works and similarly TCS which is to go for the e-commerce have not started. "All these items actually impact the collections."

Kumar also asked the industry to come up with its suggestions on resolving the various challenges that need to be resolved.

On the promises made under the GST and it’s benefits to the businesses, he said that while it has been very positive on the organised sector but the unorganised sector is still reeling under the impact of GST.

Noting that there has been an increase in compliance burden especially for small businesses, Mr Kumar said, "SMEs were promised that they will not be affected but on the whole this sector needs more support."

Similarly, he said that there is a need to have rationalization of rates of tax/slabs, besides processing of refunds has not become seamless and particularly exporters are suffering.

He also said that all the departments central and excise have to change their mind-set and become attune to the needs of GST.

Further, Kumar said though reverse charge mechanism is still not operational and has been put on hold till September 2018 but it will make things more transparent and provide a level playing field for everybody.

Print the Page Add to Favorite
Share this on :

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

Eliminate gst on mustard oil
D jain | Wed Jul 11 08:11:49 2018
As we all know m.oil is itself a very good source of medicine for human,but the manufacturing unit small scale are facing tough competition from processor and blended vegetable oil processor Therefore I think if gst department impos tax on this processor instead of small manufacturing unit in the state like Assam 'coz 90% market is captured by imported oils which will be a big issue for health for the country and it will automatically give benefits to the farmer in achieving MSP

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 20 Feb, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Can't say
  Commented Stories
» MSME secy urges sector to avail govt scheme benefits(2)
» Starting an import export business: Basic guide for beginners(1)
» 'SMEs can help India capitalise on UAE strength'(1)
» MRF to set up a new plant in Gujarat(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter