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The Hindu
a day ago
- Business
- The Hindu
GST Day celebrated in the city
Sridharan Rangarajan, Managing Director of Carborandum Universal Limited (CUMI) said the country having a federal structure, the Goods and Service Tax (GST) regime has been able to achieve 'one nation, one tax' promise which even the U.S. has not been able to achieve as also the digitisation in the form of e-invoicing of tax receipts which has become a role model similar to China. Mr. Rangarajan was participating in the GST Day 2025 celebration organised by Central GST Tamilnadu and Puducherry zone in the city on Tuesday. However Mr. Rangarajan citing the country having overcome the implementation stage of the GST, a short list of tax rates with short list of exemptions like Australia would foster easier compliance and enhance ease of doing business. At present the country has four main tax slabs which adds to the complexity of the tax regime as also the need for bringing under GST both the oil and electricity sectors. He also wanted the Central government to go for strategic reform in GST to over one the operational challenges in the age of digital disruptions and new age business models along with operationalising the tribunals. Ram Niwas, Principal Chief Commissioner of CGST of Tamilnadu and Puducherry zone, said the GST Council has helped in bringing the Central and States together in rationalising the tax regime. While the GST has been successfully implemented one of the serious issues which the officials have come across during audits is the fake input tax credit (ITC) where more than ₹1 lakh crore fake ITC has been detected with hardly 5% recovery done from these fake ITCs. Mr. Niwas also highlighted the need for preventing revenue leakages. A.R.S. Kumar, Principal Chief Commissioner of CGST and Central Excise of Tamilnadu and Puducherry zone, also spoke on the occasion.
Time of India
a day ago
- Business
- Time of India
Country needs three reforms: Maharashtra governor
COIMBATORE: Maharashtra Governor C P Radhakrishnan on Tuesday said taxpayers should not be put under pressure and they should be encouraged. Radhakrishnan was addressing a GST Day 2025 event in SNR Auditorium at Nava India in Coimbatore. He said after the introduction of Goods and Services Tax (GST), the country's tax revenue increased. Currently, the revenue increased to Rs 22 lakh crore, and the GST revenue in the Coimbatore zone increased by more than Rs 3,000 crore. 'These funds help implement various development projects across the country,' he said. He said the country needs three reforms -- namely judicial, tax and electoral reforms. 'When the One Nation and One Election is implemented, the election expenses will also come down. Reforms are also needed in the income tax department. Those who kept thousands of crores of rupees in black money are getting away with it. They are not punished. No society will progress without eradicating corruption. Those who pay taxes honestly should not be put under pressure. They should be encouraged,' said Radhakrishnan. Dinesh Purushottamrao Pangarkar, principal commissioner, GST Executive Commissionerate, Coimbatore, said when the GST was implemented, the GST Coimbatore zone earned a tax revenue of Rs 1,105 crore. Now, the zone earned a tax revenue of Rs 3,906 crores. Later, Radhakrishnan presented awards to entrepreneurs who paid GST honestly. Addressing reporters, he said criminals should be punished. At the same time, harassing innocent people should be avoided. The police should abandon the trend of punishing an innocent person as a criminal. 'When I took charge as the governor of Maharashtra, I demanded that electricity tariffs be reduced. The Maharashtra state govt set an example by reducing electricity tariffs. I request the Tamil Nadu govt to reduce electricity tariffs,' said Radhakrishnan. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
India Gazette
18-05-2025
- Business
- India Gazette
CGST Hyderabad Zone organises Cycle Marathon as part of GST Day 2025 celebrations
ANI 18 May 2025, 11:33 GMT+10 Hyderabad (Telangana) [India], May 18 (ANI): The CGST & Customs Hyderabad Zone organised a Cycle Marathon as part of the GST Day 2025 celebrations in coordination with the Fit India Campaign 2025 on Sunday. The event was held at PV Gyan Bhoomi near Necklace Road in Hyderabad. Officials from the GST and Customs departments participated in the event and said that the Cycle Marathon aimed to promote fitness and well-being among citizens. Speaking to ANI, Rakesh Goyal, Principal Commissioner of GST, Secunderabad Commissionerate, said, 'It's a good initiative by the Central Board of Indirect Taxes and Customs and Fit India to organise this event. We should exercise every day and stay healthy.' Vikash Kumar, Inspector of GST and Customs, Secunderabad Commissionerate, also praised the initiative, stating, 'This is a great initiative by the Modi is essential.' The Goods and Services Tax (GST) legislation nears completion of eight years. The GST Day celebrations mark the implementation of the Goods and Services Tax laws on July 1, 2017, which replaced a complex web of Central and State taxes. (ANI)
