GST Day Celebrations organized by the Central Board of Indirect Taxes &Customs (CBIC) on the 2nd Anniversary of GST in New Delhi today. During the function a book on “GST for MSMEs” has been released, which highlights the major decisions of GST Council, FAQs, etc. concerning MSMEs.
GST Booklet for MSME – Download Here
Press Release on GST Day – Download Here
On 1st of July, 2019, the Hon’ble Union Minister of State for Finance, Shri Anurag Singh Thakur presided over the ‘GST Day’ celebrations organized by the CBIC in New Delhi.
2. Dr. Ajay Bhushan Pandey, Revenue Secretary, Sh. P.K. Das, Chairman CBIC, and Shri John Joseph Members of CBIC graced the occasion. Senior officers of various Ministries of Government of India, senior officers of CBIC, senior retired officers of CBIC, the representatives of all major Trade and industry associations were present in large numbers.
3. On this occasion, Union Minister of State for Finance granted Commendation Certificate to 30 CBIC Officers from various formations across the country for their valuable contribution in the administration of GST. He also released a book on “GST for MSME” by CBIC.
4. Speaking on the occasion, the Hon’ble Minister of State Finance Shri Anurag Singh Thakur stated that “GST has been a game changer for all stakeholders in the economy. Prior to GST, in the constitutional scheme, taxation power with Central Government on goods was limited up to the stage of manufacture and production, while States had power to tax sale and purchase of goods. On the other hand, the Centre had the exclusive power to tax services. This sort of division of taxing powers created a grey zone which led to legal disputes since determination of what constitutes a goods or service became increasingly difficult to synergise central, state and local area levies. In GST the transition had been to levy taxes on supplies, and mechanisms to be brought in place in such a way that burden of GST does not fall on business but on the end consumption. By subsuming more than a score of indirect taxes under GST, the road to a harmonized system of indirect tax has been paved to make India an economic union, which has also significantly contributed towards higher efficiency and competitiveness”.
5. The Hon’ble MoS further added that our Hon’ble Prime Mister has rightly called GST as Good and Simple Tax. It is a shining example of GST having made India a true common market is that the transport time and cost of moving goods across the length and breadth of the country have come down significantly. There are so many other positives that do not need reiteration”. He has stated that all the decisions taken in GST Council are on consensus basis. He called upon all Officers to make GST in India the best GST available in the world. He has stated that the CBIC has done very good job for MSME sector. The NACIN has conducted GST training for all Officers apart from the support given to GST Practitioners. He has cautioned about fake invoices in GST bring bad name and urged the leaders of Industry to take corrective steps. Adding his concern over fake invoice menace, he added that “IMANDAR TAXPAYERS SE BAIR NAHIN, FAKE INVOICES WALON KI KHAIR NAHIN”. He summed up GST to be a WIN-WIN situation for all the stakeholders associated with the best tax GST.
6. Sh. P.K. Das, Chairman CBIC, welcoming all stated that the introduction of GST was a revolutionary step not only for the trade & industry, but also for all CBIC officers as well. GST through dual (Centre & State) administration lays the road map to achieve the goal of ‘ one Nation, one market and one tax’ for sincerely making Indian economy stronger than before. He further added that CBIC had been releasing SoPs, FAQs about various concerning provisions like TDS, Anti Profiteering, etc., and will continue to take such measures as and when required.
7. Speaking on the occasion the Shri Ajay Bhushan Pandey, the Revenue Secretary stated that GST is an excellent example of federal cooperation. There are 1.2 Cr tax payers who have registered on GSTN. Around 70 lakh tax payers regularly file returns and an amount of Rs 1 lakh Cr of tax is paid online. He further stated that the return filing process, refund sanction procedure, multiple ledger have been streamlined. The e-invoice is proposed to be released which will streamline return filing process. He called upon the officers that on this Day we should remember what can be further done for trade facilitation.
8 Proposing vote of thanks, Shri John Joseph, Member (Tax Policy) thankfully assured all speakers that “CBIC aspires to improvise tax administration with the changing requirement of times” and further assured that “whatever extra mile is required to work to address the challenges, our endeavour would be to keep improving the tax administration to meet the challenges”.
The event ended with the thanks to all present at the occasion.