‘GST will be beneficial for trade and industry’

Source: The Hitavada      Date: 10 Mar 2017 09:57:28

Business Bureau,

MIDC Industries Association (MIA) and Department of Customs, Central Excise and Service Tax jointly organised a full-day workshop on GST at MIA House, MIDC, Hingna. Expert faculty for the workshop was the Surendrakumar Mankoskar, Additional Commissioner of Central Excise, Pune, Kiran Deshpande, Superintendent of Central Excise, Pune, Anil Sasidharan, Ganesh Pote, Kamal Puggal and A Y Kanojia, all Assistant Commissioners were present.
The workshop was held under the supervision of C G Shegaonkar, Secretary of MIA. The workshop was attended by more than 300 entrepreneurs of MIDC, Hingna.

Mankoskar briefed all the members regarding the migration of VAT, Excise and Service Tax to GST and launch of GST, SGST, IGST with effect from July 1, 2017. He explained for more than four hours about minute details on what, how and when the GST will come into operation.

He also elaborated on responsibilities of Central and State governments. As decided by Council, upto Rs 20 lakh no GST will be applicable, between Rs 20 lakh and Rs 50 lakh turnover, Composite Scheme will be applicable to assesses, where GST to be paid at the rate of 2.5 per cent for manufacturers and at the rate 1 per cent for traders. GST will be immensely benefit to trade and industry.

Deshpande deliberated on registration, procedure, return filling and refunds at length on all forms of GST. He also informed that those who do not obtain provisional GST registration will automatically be migrated to GST either from VAT or Central Excise & Service Tax portal.

Formal welcome address was given by C G Shegaonkar. Vote of thanks was proposed by S M Patwardhan, Treasurer of MIA. Also present on the occasion were eminent industrialists Sachin Jain from Vishwashanti Udyog, Arun Lanjewar from Vishal Paints, Pravin Palkar from Palkar Industries, Ganeshlal Jaiswal from Nagpur Ceramics, Mayank Shukla from Nirav Industries, N K Bhandari from Yash Forging Pvt Ltd and representatives from Bajaj Steel Industries, Sarda Power and Steel, Onkar Furnitech, Vicco Laboratories, Bharat Containers, ANK Seals, Metalfab High Tech Pvt Ltd, NSSL Pvt Ltd, Industrial Casting Techno Rubbers, GTPL, Duraweld Metsys Pvt Ltd, Printman Industries, Aerocom Cushions and others.