To take stock of the sit­u­a­tion, post al­most one year of CST im­ple­men­ta­tion, AS­SOCHAM or­ga­nized a Na­tional Con­clave on CST on June 27, 2018. Deputy Chief Min­is­ter and Fi­nance Min­is­ter of Delhi gov­ern­ment, Mr. Man­ish Sisodia was in­vited to share his thoughts on hits and misses of CST, which was im­ple­mented on July I, 2017.

Ex­cerpts from his ad­dress to the au­di­ence:

The Cen­tre should abol­ish ICST and E-way bill to make the Coods and Ser­vices Tax more ef­fec­tive, said Mr. Sisodia. "ICST is a bad idea, I have been op­pos­ing it from day one of the CST Coun­cil meet­ing," he said. Cit­ing ev­i­dence as to how im­ple­ment­ing ICST was a bad idea, the min­is­ter said that while INR 1.81 lakh crore had been col­lected from traders as part of ICST, this money has been ly­ing idle in a sort of an escrow ac­count and can nei­ther be utilised by the

Cen­tre nor the state gov­ern­ments.

"We need to look into this as it is caus­ing loss of money and the gov­ern­ment should con­duct a study and take a de­ci­sion on ICST which is not re­quired at all," he said.

He also said that real es­tate should be a part of CST, some­thing he had sug­gested dur­ing the CST Coun­cil meet­ings but sur­pris­ingly many of the min­is­ters did not agree to the same.

"While the CST was launched with a huge fan­fare show­cas­ing it as • se­cur­ing tax free­dom, we did not bring real es­tate un­der its am­bit whereas

free­dom from black money was needed the most in this sec­tor," added Mr. Sisodia.

He also said that gov­ern­ment should con­duct data driven in­spec­tions as CST which was sup­posed to bring an end to the in­spec­tor raj but it did not hap­pen.

The deputy chief min­is­ter of Delhi fur­ther said that E-way bill con­cept should al­sobe abol­ished. "More so in case of in­tra-state, be­cause when ev­ery­thing is on­line then why do you need phys­i­cal pres­ence of in­spec­tors on ev­ery check point?" Lament­ing that CST was im­ple­mented in In­dia in a hur­ried man­ner, with­out proper prepa­ra­tion cer­tain, he said that the big­gest mis­take was terming it as' one na­tion-one tax' whereas it turned out to be' sev­eral taxes-one na­tion sub­sumed to­gether.'

Mr. Sisodia also said that he had sug­gested in the CST Coun­cil meet­ings to some­how try and come up with an outof-the-box so­lu­tion thereby im­ple­ment­ing a sin­gle tax rate. "While it was sug­gested to re­duce the rate in or­der to en­sure wider tax com­pli­ance, not do­ing so was another big mis­take."

He re­called how in the pre-CST regime, the rev­enue col­lec­tions of Delhi rose to INR 48,000crore in three years from INR 31,000 merely by bring­ing down the tax rate.

The min­is­ter also in­formed that he has been get­ting lot of pol­icy re­lated rep­re­sen­ta­tions on CST from dif­fer­ent groups of traders dur­ing the morn­ing pub­lic meet­ing hours, de­spite hold­ing so many con­sul­ta­tions and dis­cus­sions. "This shows ev­ery­thing with CST is not go­ing the way as was in­tended." He also sug­gested the Cen­tre to ac­knowl­edge that mis­takes have been com­mit­ted dur­ing dif­fer­ent stages of CST be it ef­fec­tive im­ple­men­ta­tion, pol­icy mak­ing, open ap­proach or dar­ing steps and the gov­ern­ment should come up with ef­fec­tive so­lu­tions in this re­gard.

Mr. D. S. Rawat, Sec­re­tary Gen­eral, AS­SOCHAM wel­com­ing Mr. Man­ish Sisodia, Deputy CM & Fi­nance Min­is­ter, Govt. of Delhi, NCT.

Panel dis­cus­sion on GST with Mr. Upen­der Gupta, Com­mis­sioner GSTPol­icy Wing, (CBIC), Mr. Sumit Dutt Ma­jumder, For­mer Chair­man, CBEe, Mr. Prakash Ku­mar, CEO, GSTN and Mr. Jag­mal Singh, VP (De­sign­ing Train­ing) GSTN.

Mr. Man­ish Sisodia, Deputy CM & Fi­nance Min­is­ter, Govt. of Delhi NCT ad­dress­ing at the con­clave.

Mr. Su­jit Ghosh, Part­ner & Na­tional Head, Ad­vaita Le­gal ad­dress­ing the au­di­ence.

Mr. 1. K. Mit­tal, Co-chair­man, Na­tional Coun­cil on In­di­rect Taxes, AS­SOCHAM ad­dress­ing the au­di­ence.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.