Recommendations of FICCI to Empowered Committee of State Finance Ministers in respect of GST
Dear all,
As we know that, GST model law was released on 14th June 2016 in public domain and since then nearly 40000 recommendations/ suggestions have reached the Government of India from various associations and public representations. Federation of Indian Chambers of Commerce & Industry has submitted various recommendations to Empowered Committee of State Finance Ministers which is worth reading to understand the major challenges and implications under the new proposed tax law. The important issues raised by FICCI are as follows:
1) Approach to Classification of Goods for Applying Rates of GST
2) Continuation of Certain Existing Exemptions
3) Implementation Schedule
4) Administration of the GST
5) Non-Adversarial Tax Regime
6) Centralized Registration for Nationwide Service Providers
7) Intra entity transfer of services
8) Doing away with requirement of way bills/documents for movement of goods
9) Valuation principles should not go beyond transaction value
10) Mismatch of Input Tax Credit
So, Silvassa Industries & Manufacturers Association is forwarding herewith the soft copy of FICCI recommendations on GST. So, all the colleague industries are hereby requested to go through the said recommendations and suggestion which shall enlighten your knowledge and information of the subject of GST regime.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi,
Secretary
