VIJAYAWADA: The CGST Audit Commissionerate has laid emphasis on Ease of Doing Business (EoDB), said Commissioner P Anand Kumar. CII Vijayawada organised an interactive session with CGST Commissioner in the city on Friday.
The session focused on addressing key challenges businesses face in GST filing, Input Tax Credit and other GST audit related issues. D Ramakrishna, past chairman, CII Andhra Pradesh, and Managing Director, Efftronics Systems Pvt Ltd, gave insights into GST impact on MSMEs, and highlighted the various challenges faced by industry.
Anand Kumar explained the ‘One Nation One Tax’ policy and its benefits since its implementation in 2017, including simplified tax payments for businesses. He explained the online GST registration process, the importance of avoiding fraudulent tax evasion practices, and the streamlined return filing and audit processes. He highlighted the significant increase in the taxpayer base from 70 lakh to 140 lakh in the State, and a reduction in the median tax slab from 14.5% to 11.5%, contributing to the country’s economic growth.
The session also served as a forum for industry members to voice their concerns and get practical solutions in filing returns and managing GST payments. The session underscored CII’s commitment to supporting businesses in navigating the complexities of GST, and fostering economic development. More than 70 entrepreneurs and industrialists virtually participated in the session.
V Venkateswara Rao, Deputy Commissioner, CGST Commissionerate, Guntur, CII Vijayawada Chairman DV Ravindranath and others were also present.