IIA brings up various GST related issues faced by MSMEs with top CGST & Central Excise official in Lucknow
LUCKNOW: Indian Industries Association (IIA) has submitted various issues in Goods and Services Tax (GST) faced by the industry and Trade to Chief Commissioner CGST & Central Excise.
In a meeting held in Lucknow Zone with the Commissioner on Thursday, IIA apprised him of the various issues in GST and submitted the issues which were collected from its members during the past few days.
“In order to facilitate Trade & Industry, Government of India through Chief Commissioner CGST & Central Exercise, Lucknow Zone has invited issues faced by the Industry & Trade on GST. Accordingly, Indian Industries Association (IIA) has been working on collecting the issues from its members during the past few days,” IIA said in a letter.
Rajat Mehra, Chairman Micro Small and Medium Enterprises (MSME) Study & Research Committee of IIA presented these issues in the meeting while Chairman IIA Lucknow Chapter also accompanied Mehra in this meeting.
The issues presented by IIA in the meeting along with demands and suggestions are as follows:
01. Requirement of HSN Wise Purchase Details in Annual Return- GSTR-9
02. Regarding updation of changes in ongoing Partnership Firm, Frequent Changes in GST Rules and Systems
03. Frequent Changes in GST Rules & Systems
04. GSTIN /UIN for Power Consumers
05. GST Registration Cancellation
06. Issues in maintaining details of HSN/SAC Summary of A) Issues in maintaining details of HSN/SAC Summary of Supplies
07. Procedural difficulty in complying with the provisions of Rule 42 of the CGST Rules 2017
08. difficulty in complying with the provisions of Rule 43 of the CGST Rules 2017
09. Procedural difficulty in complying with the provisions of Sec 17(3) of the CGST Act 2017
10. Issues in GSTN Portal
11. Impact on small suppliers filing GSTR 1 on quarterly basis
12. Absence of mechanism of verification of ineligible credits
13. Absence of matching tool shall put constrains on taxpayer resources
Source- Knn India.
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