System has been made compatible & its benefits will outweigh the issues faced, say experts
While initially there were certain hiccups, now GST has more or less stabilised its position. The system has been made compatible to the requirements of the trade and if complied to properly, the benefits of GST will far outweigh the issues faced in its implementation. This was stated on Saturday by CK Jain, Commissioner – CGST and Central Excise, Udaipur. He was speaking at a day-long interactive session on ‘GST Journey & Union Budget Analysis’ organised by Federation of Indian Chambers of Commerce and Industry (FICCI) Rajasthan on Saturday.
The commissioner further said that a committee has been formed for the simplification of filing GST return. A monthly meeting is held in the GST Council regularly to address all issues being faced. While some technical issues are prevalent due to the online system of filing the return, but these also will be solved in the near future, assured Jain. He also urged that all individuals should file their return themselves rather than through consultants.
During the session, Alok Gupta, commissioner, commercial taxes, said that since the GST regime has been implemented, more than 1,75,000 registrations have taken place which is 32% more than the earlier VAT regime.
Gupta also shared that the Commercial Taxes Department, has been successful in getting accepted many suggestions of various industry holders from Rajasthan by the GST Council.
These include suggestions from sectors like Marble, gems and jewellery, MSME, among others.
Tax expert and advocate Pankaj Ghiya on this occasion said that majority of litigating issues relating to GST have been settled. There are some impending issues like those of VAT, export consignment, proportionate credit, among others which need to be tackled.
Efforts needed
- Earlier in his welcome address, co-chairman, FICCI Rajasthan State Council, Randhir Vikram Singh threw light on various efforts of FICCI to benefit the industry stalwarts by holding such seminars and conferences on important issues like GST.
- The system has been made compatible to the requirements of the trade and if complied to properly, the benefits of GST will far outweigh the issues faced. This was stated on Saturday by CK Jain, Commissioner – CGST and Central Excise, Udaipur.
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 "CK Jain,Atul Sharma,Randhir Vikram Singh, Alok Gupta, Pankaj Ghiya and Ajay Singha")
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