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  1. CICU Organized Program on “Enlighten on GST Act & Implementation” with Department Officials of Dy. Excise & Taxation Commissioner, Jalandhar

    CICU Organized Program on “Enlighten on GST Act & Implementation” with Department Officials of Dy. Excise & Taxation Commissioner, Jalandhar on Saturday, 27th May 2017 at E-648-A, CICU Complex, Focal Point Ludhiana.

    Sh. Avtar Singh, President CICU while welcoming the ETO Ms. Harsimrat Kaur & ETO Mr. Baldeep Karam Singh from DETC office Jalandhar said, there is a need to get the information and inputs about its implementations.

    Mr. Harsimerjit Singh, Industrialist honored both the officials with a bouque and further addressed the audience to kindly apply for your VAT Refund before the GST get implemented for avoiding complications.

    ETO Ms. Harsimrat Kaur gave the detailed presentation of Goods and Services Tax (GST), significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market. From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated to be around 25%-30%. Introduction of GST would also make Indian products competitive in the domestic and international markets. Studies show that this would have a boosting impact on economic growth. Last but not the least, this tax, because of its transparent and self-policing character, would be easier to administer.

    Benefits to Trade: Reduction in multiplicity of taxes, Mitigation of cascading/ double taxation, more efficient neutralization of taxes especially for exports, Development of common national market, Simpler tax regime, fewer rates and exemptions, Distinction between Goods & Services no longer required.

    Benefits to Consumers: Simpler Tax system, Reduction in prices of goods & services due to elimination of cascading, uniform prices throughout the country, Transparency in taxation system, Increase in employment opportunities.

    Further ETO Mr. Baldeep Karam Singh discussed on Salient Features OF GST LAW and informed about GST enrolment window will re-open on June 01, 2017 for 15 days.

    More than 250 participants participated in this Program. This event was attended by S/Sh.  Harsimran Singh Lucky, Ram Lubhaya, U.K Narang, Rajneesh Bansal, Narinder Miglani, Phuman Singh and other Chairmen, Presidents of various Associations and Leading Industrialists were present