Be ready for smooth rollout of GST, says Mankoskar
|Source: The Hitavada Date: 12 Mar 2017 09:37:42|
“TO AVOID cascading effect of indirect taxes and to make whole of India as one market, Goods and Services Tax (GST) is going to be implemented from July 1. For smooth transfer of input credit and compliance with provisions of GST law, industry should understand the concept of GST,” said Surendrakumar Mankoskar, Additional Commissioner Central Excise, Pune while talking at a workshop on GST.
He also explained about the incidence, levy and collection of GST. Mankoskar was addressing the august gathering of more than 200 industry members at the Butibori Manufacturers Association (BMA) hall recently. The workshop was organised by Central Excise, Customs and Service Tax, Nagpur Division, Butibori. Superintendent Kiron Deshpande informed about registration, filing of returns and payment of GST.
President of BMA Nitin Lonkar and CA Milind Kanade welcomed the speakers and Devranjan Mishra, Assistant Commissioner, Nagpur Division, Butibori. “GST is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacturer upto final consumption with credit of taxes paid at previous stages available as setoff. Only value addition will be taxed and burden of tax is to be borne by the final consumer,” said Mishra, Assistant Commissioner of Central Excise.
Lonkar informed the gathering about Butibori Industrial Area and activities carried out by BMA. He congratulated the Central Excise Department for the initiative taken to educate the entrepreneurs about implementation module of the GST.
Devranjan Mishra and Immediate Past President of BMA Pradeep Khandelwal presided over the function. Jivan Ghime, Secretary of BMA conducted the proceedings. Prominently present were Manish Sanghvi Vice President, Prashant Meshram, Treasurer, Punit Mahajan, Vice President, CA Milind Kanade, Yuvraj Vyas, Nitin Gujjelwar and Executive Committee members of BMA. Abdul Javed, BraSinha and R Eizkel, superintendents from Central Excise Department worked hard for the success of the one day workshop.