CII organises GST interactive session

Vijayawada: CGST Commissioner P Anand Kumar on Friday said the focus of CGST Audit Commissionerate is on how to improve ease of doing business (EoDB).

During an interactive session he addressed key challenges businesses face with GST filing, input tax credit, and other GST audit related issues. CII Andhra Pradesh past chairman D Ramakrishna and Managing Director, Efftronics Systems Pvt Ltd gave insights into GST's impact on MSMEs and highlighted the various challenges faced by industry.

In his address, Anand Kumar explained the “One Nation One Tax” policy and its benefits since its implementation in 2017, including simplified tax payments for businesses. Anand discussed the online GST registration process, the importance of avoiding fraudulent tax evasion practices, and the streamlined return filing and audit processes and noted a significant increase in the taxpayer base from 70 lakh to 140 lakh and a reduction in the median tax slab from 14.5 per cent to 11.5 per cent, contributing to the country’s economic growth.

The session also served as a forum for industry members to voice their concerns and receive practical solutions for filing returns and managing GST payments. Attendees from various sectors actively participated in the session, gaining valuable insights on overcoming challenges and enhancing their financial performance. The session underscored CII’s commitment to supporting businesses in navigating the complexities of GST and fostering economic development.

Deputy Commissioner of CGST Commissionerate, Guntur V Venkateswara Rao and CII Vijayawada chapter chairman DV Ravindranath, spoke.