Korba (Naiduniya News). GST advisor Mohammad Rafiq Memon has written a letter to Prime Minister Narendra Modi regarding some changes in GST to further strengthen the economy of the states.
Memon has said in the letter that there is a need to work towards strengthening the economy of the states so that the states get more revenue so that the state governments can further promote small industries. Work towards increasing the purchasing power of common citizens of the states. Necessary construction works can be started in the states rapidly. At the same time, new jobs can be created on a large scale. If the economy of the states will be strong, then the country’s economy will automatically strengthen. For this, some changes will have to be made in GST for the coming three years. In GST, IGST is levied on the sale and sale of goods outside the state. The practitioner of 100% IGST gets input tax credit on the re-sale of goods, but the state from which the goods are sold to another state, Even after selling, that state does not get the benefit of IGST.
This is causing a lot of revenue loss to the states. In view of the present situation of the country, 50% input tax credit of all types of IGST should be given and 50% IGST amount should be given to the same states along with payment of tax so that the states can get additional revenue of crores and present Given the situation, business within the states should also get a boost. Similarly, a stock transfer facility should be provided from one state to another, so that companies start their office with GST number in every state so that citizens of every state will get employment and get other benefits.
Due to which citizens of every state will get employment and get other benefits.Due to which citizens of every state will get employment and get other benefits.With which companies should start their office with GST number in every state, from which citizens of every state will get employment and get other benefits.With which companies should start their office with GST number in every state, from which citizens of every state will get employment and get other benefits.
Tax limit for three years is 20 lakhs
Presently, the tax liability limit in GST for purchase and sale is 40 lakh and for the service, the sector is 20 lakh. The limit of tax liability of all businessmen for three years should be given Rs 20 lakh, which will increase the revenue. The amount of late fees levied in GST should be taken in the name of Kisan Vikas and the entire amount should be taken in SGST, so that the amount is received by the state in which the businessmen are registered and that amount can be used for the welfare of the farmers of that state. Could. Businessmen, whose annual sales are up to five crores, should not be charged more than three thousand late fees per month so that small businessmen can run their business smoothly.