Tuesday 25 July 2023

Today President Jitendra shah along with Director General Pritesh shah met Smt Nirmala Sitharamanji - Finance Minister of India at her office in Parliament and luckily she gave a patient hearing for 15-20 minutes about the following issues

1) problems of Sec 16(2) &16(2)C of GST act ,      
2) E way bill issues and the High handedness of GST officers in handling issues ,                                 
3) sub lease and the documents of the original owner should be allowed for additional place of business ,           
4) TCS 1 % should be immediately removed since it blocks big cash flow ,                        
5)Income tax on partnership / LLP / Properiotorship should be brought in lieu of corporate tax @25 % ,  
6) GST credit should be allowed after expiry date  of medicines and not limit to six month as on other products         
7) Rationalising rate of GST @18 % on all Air conditioner purchase , servicing , commissioning etc        
8) acceptance mechanism by other other party should be brought for any amendment in GSTR1   Done which would help reduce cheating by suppliers who amends gst credit after one year 
We Strongly put forth GST issues and Income tax matter which needs her immediate attention , she said she would look into it and she positively said that  few of above issues raised by FAM would be surely taken care and resolved soon . They also aim for ease of doing business and would definitely would try to reduce  compliances issues .

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