GST day celebrations in Pune.

The Central Goods and Services Tax (CGST) and Customs Pune Zone held an event at GST Bhavan in Pune to commemorate the fourth year of GST implementation.

On the occasion of the fourth year of GST implementation, the Central Goods and Services Tax (CGST) and Customs Pune Zone conducted an event at GST Bhavan in Pune on Thursday.  The event was presided over by Krishna A. Mishra, Chief Commissioner, CGST and Customs, Pune Zone, with Anu Aga, Ex-Chairperson, Thermax Limited, as the chief guest. Members of the trade and industry, as well as tax practitioners, virtually attended the event.

Mishra emphasised to the officers that the implementation of GST is the largest indirect tax reform in the history of Independent India, and that GST has led to the formalisation of the economy throughout the years, resulting in nation building and growth. She went on to say that over the previous four years of the GST journey, the government has worked hard to lower the compliance burden while increasing tax revenues by reducing tax evasion. During the GST regime, the Department implemented various important initiatives, such as hassle-free movement of products across the country due to E-way Bill, consistency and uniformity in return details across all States, automated refunds, and the implementation of a Single Online Payment System.

She further added that it is a difficult time for the Department in terms of revenue collection since a delicate balance must be maintained between revenue generation and aiding businesses in order to alleviate the distress created by the COVID-19 situation. During the epidemic, the Department provided tax payers with quick reimbursements in order to provide liquidity of funds, particularly for the MSME sector. This year’s zonal GST collection is Rs. 4752 crores, compared to Rs. 2208 crores last year.

Mishra went on to say that the Zone would make every effort to increase revenue and outperform last year’s collection. She paid respect to all the officers and workers of the Pune Zone and Central Board of Indirect Taxes and Customs (CBIC) who died in the course of duty as a result of the pandemic. She went on to say that the Department will continue to strive for handholding in these difficult times, and that the Department, in collaboration with stakeholders, would resuscitate the economy and fulfil Prime Minister’s dream of ‘Atmanirbhar Bharat.’