NEW DELHI: Owners and employees of private security industry today staged a silent protest at India Gate here, demanding "streamlining of GST rules" for the sector.
The Central Association of Private Security Industry (CAPSI) demanded immediate implementation of 'reverse charge mechanism' for GST payment so that payment of GST is done directly by service receiver to the government and those running private security agencies should not be burdened by it.
In a statement issued by the CAPSI, owners and employees of private security industry, majority of whom are retired Armed forces officers and personnel, first laid wreath at the Amar Jawan Jyoti at India Gate in respect of martyrs and then staged the protest in support of their demands.
Similar protests were organised in all state capitals across the country by CAPSI members, it said.
"We have made several representations to the Finance Ministry and to the GST Commissioner demanding streamlining of the GST mechanism for our industry. The major issue, which is forcing owners to close down their companies, is the methodology of depositing GST."
"The GST has to be deposited by the security agencies on Month 20 in which the bill has been raised," the statement quoted CAPSI chairman Kunwar Vikram Singh as saying.
Singh said, however, the payment of these bills is received by these agencies only after 60-90 days or more.
"Thus, the cash flows of this low-margin Industry gets impacted seriously due to 2-3 months delay in getting payments. We have to carry this huge back-breaking burden," Singh said.