gsia bi-monthly news bulletin goa state industries … · 2011-01-24 · 4 d u strie s n a i s e s...

1

INDEXContents Page No

GSIA BI-MONTHLY NEWS BULLETIN

GOA STATE INDUSTRIES ASSOCIATION(An Apex Association for Micro, Small & Medium Enterprises in Goa)

ISO 9001:2008 Certified

THOffice: 4 FLOOR, GOA-IDC HOUSE, PATTO PLAZA, PANAJI, GOA 403 001.

Ph.: +91-832-2438395 Fax: +91-832-2438210 E-mail : [email protected] Website: www.gsia.in

www.GSIA.in

President's Message 3

Association Activities 4

International Conference on Geographical Indications at New Delhi 5

Export Awareness Programme by GSIA jointly with EEPC India 5

Meeting with Chairman Goa State Pollution Control Board 6

Meeting of Rate Contract Committee with GHRSSIDC 6

Press Conference organized by GSIA 6

Directory of Meetings for the months of November- December 2010 8

Your Business Compliance Calender 8

Important Correspondence 9

Important Notifications & Circulars 10

Amendment of the Goa Value Added Tax ( Eight Amendment) Rules, 2010 10

News Gallery 13

For Kind Attention of Members 11

Document Identification Number for Income Tax 11

Hope for Consensus on GST 11

2

GSIA Co-ordination Committee for 2010 - 2013

GSIA Executive Committee Members for 2010-2013

STRIESU D AN S I SE OT CA IT A

S T IOA

NOG

Goa State Industries Association GSIA News Bulletin Nov. - Dec. 2010

www.GSIA.in

Hon. TreasurerMr. Rajiv Negvi

Hon. SecretaryMr. Sandeep Sardesai

MembersMr. Rajkumar Kamat Mr. Sanat Raiturkar Mr. Sameer KenyMr. Abhijeet Naik Mr. Naresh Pai Mr. Kiran ShirsatMr. Shiv Kumar Patil Mr. Suharsh Usgaonkar Mr. Rajesh Khaunte (Co-opted)Mr. Parag Joshi (Co-opted)

Imm. Past President Mr. Atul P. Naik

Vice President Dr. Sangam Kurade

President Mr. Shekhar Sardessai

GSIA Advisory Committee Members for 2010-2013

President Mr. Shekhar Sardessai

Imm. Past PresidentMr. Atul P. Naik

Past PresidentsMr. Atul Pai Kane Mr. Sudin Naik Mr. Keshav Kamat

1. Entrepreneurship Development & Human Capital 6. Bio Technology Sector & Bio Incubator Committee Committee Chairman: Dr. Sangam KuradeChairman : Mr. Atul Pai Kane Members : Mr. Atul P. NaikMembers : Mr. Vivek Kamat, Director, DTE Mr. Shekhar Sardessai

Mr. Prabodh Kamat, SM, Dempo Group7. Communication & Publicity Committee

2. Micro Industries Development Committee Chairman: Mr. Shekhar SardessaiChairman : Mr. Rajkumar Kamat Members: Mr. Sandeep SardesaiMembers : Mr. Sameer Keny Mr. Sanat Pai Raiturkar Mr. Suharsh Usgaonkar Dr. Sangam Kurade

Mr. Atul P. Naik3. Industrial Estate Coordination CommitteeChairman : Mr. Sandeep Sardesai 8. Policy & Strategy CommitteeMembers: Mr. Kiran Shirsat Chairman: Mr. Parag Joshi

Mr. Abhijeet Naik Members: Mr. Sudin Naik Mr. Sameer Keny Mr. Atul Pai Kane Mr. Sanat Pai Raiturkar Mr. Keshav Kamat Mr. Rajiv Nevgi Mr. Atul P. Naik

4. Taxation/Legal Committee 9. ITI Development CommitteeChairman: Mr. Atul P. Naik Chairman: Mr. Sudesh RaneMembers: Mr. Keshav Kamat Members: Dr. Sangam Kurade Mr. Atul Pai Kane Mr. Rajkumar Kamat Adv. Y.S. Pai Bir Mr. Shivkumar Patil

5. Environmental Protection Committee 10. Training & Academic Programmes CommitteeChairman: Mr. Keshav Kamat Chairman : Mr. Rajkumar KamtMembers: Mr. Naresh Pai Mr. Lalit Saraswat Mr. Suharsh Usgaonkar Mr. Vikram Kamat

3

GSIA's Representation on various Committees on the Government/ Government undertakings etc. for the tenure 2010-2013

The views expressed in this Bulletin are not necessarily those of the Association. All information is provided with the usual waiver of responsibility as neither the GSIA nor its members, employees or service providers can accept liability for loss and damage resulting from omissions and inaccuracy relating to articles, information, data, telephone numbers, addresses, wording, spacing or positioning of any listings, representations and other material regardless of the cause.

www.GSIA.in


S T IOA

NOG


COMMITTEE REPRESENTED BY

1 Goa Industrial Development Corporation (Goa IDC) Board. President

2 State Level Co-ordination Committee for State Investment Subsidy. President

3 Power Advisory Committee. President

4 Micro, Small & Medium Enterprises Facilitation Council. President

5 State Labour Advisory Board. President

6 Integrated Education Advisory Counci l, Goa University. President

7 Governing Board for Entrepreneurship and Business Development Center, Goa University. President

8 State Minimum Wages Advisory Board. President

9 State Planning Board/State Level Planning Committee. President

10 Goa State Pollution Control Board. President

11 Constitution of Skill Development Mission President

12 Goa State Employment Subsidy Scheme for Bio Technology Units, 2009 President

13 Interest Subsidy Scheme for Bio Technolo gy Units, 2009 President

14 Goa State Investment Subsidy Scheme for Bio Technology Units, 2009 President

15 Constitution of Sub-Committee to Skill Development Mission Mr. Sandeep Sardesai

16 Advisory Committee of Bio Incubator Facility (ACBIF) President /Dr. Sangam Kurade

17 Committee for Assessment of Pollution from specific Sources Mr. Keshav Kamat

18 State Level Steering Committee for Center of Excellence (COE) Scheme under World Bank. Dr. Sangam Kurade

19 Vocational Trai ning Provider (VTP) Evaluation Committee(VEC) for Skill Development Initiative Scheme.

Mr. Sandeep Sardesai

20

State Board of Examination constituted by State Council for Vocational Training (SDCT). Mr. Sandeep Sardesai

21

Human Resource Development Foundation Society.

Mr. Sudesh Rane

22

State Level Steering Committee for IMC's of ITI's.

Dr. Sangam Kurade

23

Federation of Indian Micro and Small & Medium Enterprises (FISME). Mr. Atul P. Naik

24

Goa Handicrafts Rural Small Scale Industries Development Corporation (GHRSSIDC). Mr. Rajkumar Kamat

25

Rate Contract Committee under Preferential Purchase Scheme. Mr. Rajkumar Kamat

26

MSME Development Institute, Margao.

Mr. Sandeep Sardesai

27

Commercial Tax Advisory Committe e.

Mr. Atul P. Naik

28

Public Grievance Committee for Customs & Central Excise.

Mr. Atul P. Naik

29

Regional Advisory Committee (RAC) for Customs & Central Excise. Mr. Atul P. Naik

30

State Level of Inter-Institutional Committee (SLIIC).

President

31

State Level Bankers Committee (SLBC)

President

32

Goa Labour Welfare Board.

Mr. Naresh Pai

33

Regional Board / Local (ESIC) Employees State Insurance Corporation. Mr. Sameer Keny

34

State Level Committee on Standardization & Quality System.

Mr. Sameer Keny

35

Tool Room & Training Center.

Mr. Sanjeev Trivedi

36

Federation of Association of Small Industries of India (FASII).

Federation of Indian Chambers of Commerce & Industry(FICCI).Mr. Rajiv Nevgi

37

Controller of Legal Metrology (Weights & Measures).

Mr. Abhijit Naik

38 Regional Committee of Employees Provident Fund for the State of Goa (EPF). Mr. Sandeep Sardesai

39 College Development Council, Goa University.

President

40 Task Force Committee on GST Mr. Atul P. Naik

41 State Level Advisory Board (SLAB) attached to MSME -DI Goa President

4www.GSIA.in


S T IOA

NOG


The year 2010 has passed by so soon and by the time this Bulletin is in

your hands, you would have welcomed the New Year 2011 with new

resolutions, wish-list, hope and renewed vision. Vision is what

separates a winner from the crowd. A visionary is necessarily an

explorer who constantly navigates his directions to - either do

different things or do things differently.

The year 2011 also marks the beginning of a new decade. Looking

back at the achievements of the last 10 years, the next decade cannot

be bereft of hope. India has recovered well from the world economic

crisis as compared to many developed countries. During the year

2010, Indian economy grew at more than 8%, but inflation kept pace

specially in food items due to unseasonal rains, which could derail

economic growth in 2011. Given the inter-dependencies with global

economies, there should be cautious outlook and the industry should

focus on innovation and new models of growth in the new decade.

There is potential, resources are plenty only the will to act is essential.

For the economy to grow, it is important that the share of

manufacturing sector in Gross Domestic Product (GDP) should go

up. In India the share of manufacturing sector in GDP is around 16% whereas in China, manufacturing sector

contributes more than 30% of country's GDP. Manufacturing sector has a multiplier effect on creation of jobs and

it can help to achieve inclusive growth. During the month of November 2010, the growth in key infrastructure

sectors dropped to a 21 month low to 2.3% compared to 8.6% in Oct., 2010. Slower growth in core sectors would

have an adverse effect on Index of Industrial Production (IIP)

In Goa what industries need in the New Year is industry-friendly Industrial Policy, good infrastructure and

transparency in allotment of land in Industrial Estates. The current Industrial Policy has become obsolete. In

today's liberalized environment and globalized economies what industry needs to grow and prosper are enablers

more than subsidies. The Government should come out with a progressive Industrial Policy relevant to the needs

and aspirations of all the stakeholders. This should be a focused exercise done by experts in the field unlike the

announcement of some populist schemes.

Let us hope that the Goa Government will give the importance it deserves to MSME sector, which is an important

component of our national economy. Goa can be made a first-choice destination for many hi-tech and

environment friendly industries. Let us get involved in building Goa of our dreams, which will stand out with

economic strength, confidence and pride. GSIA is striving hard to mobilise all stakeholders to realise this dream.

I WISH YOU AND YOUR FAMILIES A VERY HAPPY AND PROSPEROUS NEW YEAR 2011.

President'sMessage

With warm regards,Shekhar Sardessai.

5

happening GI consolidation must happen if the consumer 1. INTERNATIONAL CONFERENCE of say Feni has to perceive increase in value due to GI

O N G E O G R A P H I C A L through improvement and standardisation in quality.INDICATIONS AT NEW DELHI

2 . E X P O R T A W A R E N E S S Mr. Atul P. Naik attended the International Conference on PROGRAMME BY GSIA JOINTLY Geographical Indications on 16th and 17th November, 2010 organised jointly by UNCTAD, Department of WITH EEPC INDIACommerce GOI and DFID Govt of UK as part of their joint project on strategies and preparedness for Globalization. Mr. Atul P. Naik attended the said Conference on behalf of Goa Sate Industries Association(GSIA) who are tier II partners of Federation of Indian Small and Medium Enterprises (FISME). The highlight of the conference was to bring into sharp focus the role of post GI consolidation for sustained economic benefits, as well as the importance of the participation of producers - small farmers, cashew growers, distillers in case of feni - as co owners of the GI certification in addition to the manufacturers. Mr. Atul P. Naik said in most cases in India producers are not part of the GI ownership and there has been very little benefit to the producers, socially and economically, of obtaining the GI. In the case of Feni too, the GI has only

Goa State Industries Association (GSIA) jointly with helped to obtain protection of its uniqueness, identity and Engineering Exports Promotion Council (EEPC) India, organised an Export Awareness Programme at Hotel

thMandovi on Friday, the 19 November, 2010. The programme received good response from representatives of MSME sector in Goa.

prevention of free riding. However no effort has gone into brand building, ensuring standardisation, quality monitoring, stakeholders awareness, education and involvement, obtaining higher value after GI and mapping of per capita income / standard of living of the producers pre GI and post GI. This is true for most of the 123 GIs in India. Darjeeling Tea is a rare example of success. In cases like Benares Saree and some other Textiles producers' co-op societies are part owners of the GI and slowly economic benefits are happening. But in most cases it is not

Association Activities


S T IOA

NOG


www.GSIA.in

Mr. Atul P. N ik presenting Madam Rosa Cashew Fenias a memento to Mr Bonapas the representative

of UNCTAD at the GI Conference

a

GSIA President Mr. Shekhar Sardessai deliveringWelcome Speech during the Programme

Dignitaries from Left to Right- Shri. Khalid Khan- Dy. Regional Chairman- EEPC India (WR), Shri. Avil D'Mello,

FTDO, DGFT, Goa, Shri. Rajat Srivastava Regional Director-EEPC India, Shri. Shekhar Sardessai President

GSIA,Shri. Nikhil Desai MD GHRSSIDC, Shri. M.P. Rajagopalan AGM-SBI & Shri. Rajesh M. Jhamnani Br.

Manager (Thane )- ECGC

6


S T IOA

NOG


www.GSIA.in

Mr Nikhil Desai, MD, GHRSSIDC, was the Chief Guest Notifying Categorisation/Combined Forms/Fee Structure for the function. He said that Goa has logistical advantage by GSPCB. The Chairman, GSPCB informed that they and is an ideal location for exports with excellent port have forwarded the recommendations of the Board to facilities and an international airport becoming a reality DSTE. When asked where the matter is held up, he said that very soon. He also mooted the idea of a separate Industrial he was not aware and requested GSIA to follow up with Estate for small and medium industries with availability of DSTE. forward and backward linkages with some multinational companies. He suggested that Government and private 4. MEETING OF RATE CONTRACT sector should come together for the development of

COMMITTEE WITH GHRSSIDC industrial sector in Goa.

Meetings of Rate Contract Committee, GHRSSIDC for Mr. Shekhar Sardessai, President GSIA in his welcome th thnegotiation of rates with suppliers were held on 16 , 18 & address said that GSIA is always in the forefront for the

nddevelopment of MSMEs in Goa. He said this seminar is 22 Nov., 2010 respectively. Fresh rates have been organised to provide awareness to Goan small and medium approved and Notification is awaited. industries of the various incentives and facilities that are available to industries to enter into export business. He 5 . P R E S S C O N F E R E N C E said, though MSMEs contribute nearly 40% of total

ORGANIZED BY GSIAexports of India, hardly less than 1% of MSMEs are actually engaged in exports. In Goa too the situation is not different. He assured the participants that more such interactions will be organised by GSIA in the future.

The seminar was addressed by Mr. Rajat Srivastava, Regional Director, EEPC India and Mr. Khalid Khan, Dy. Regional Chairman, EEPC India who informed the participants of the various services and events organised by EEPC India for the promotion of engineering exports from India. The seminar was also addressed by Mr. Avil D'Mello of DGFT, Goa and Mr. M. P. Rajagopalan, AGM of State Bank of India. Ms Shama Pai, Manager, Credit of SBI gave a detailed presentation of credit facilities available to exporters.

thA Press Conference was organized by GSIA on 6 December 2010 at Hotel Salida Del Sol, Panaji Goa.

While addressing the Press and Media, Mr. Shekhar Sardessai- President GSIA said that the main objective of holding the Press Conference is to communicate to all the stake holders GSIA's views and stand on all current issues as well as communicate the initiatives that GSIA is taking to facilitate creation of a progressive climate for entrepreneurship and industrialization of Goa. GSIA is set to take several progressive and proactive initiatives aimed at expanding access to opportunities and resources for the 3. MEETING WITH CHAIRMAN existing Goan entrepreneurs as well as budding

G O A S T A T E P O L L U T I O N entrepreneurs in Goa.

CONTROL BOARDGSIA is constantly engaging with the Government of Goa on several key issues that are affecting the industrial On 22/11/2010 Office Bearers of GSIA met the Chairman, development in Goa, especially in the MSME sector.GSPCB to enquire about the long pending issue of delay in

Participants for the Export Awareness Programme

GSIA Office Bearers from Left to Right: Mr. Atul P. Naik- Imm. Past President, Dr. Sangam Kurade- Vice

President, Mr. Shekhar Sardessai- President, & Mr. Sandeep Sardesai-Hon. Secretary

7


S T IOA

NOG


www.GSIA.in

Several issues were touched upon in the Press Conference such as:i)De-notification of SEZ Land, ii)Regional Plan(Goa) 2021, iii)Power scenario, iv)Availability and Transparency in allotment of land to industries, v)Revision of Industrial Policy, 2003/2008, vi) Initiatives for Entrepreneurial Skill Development by GSIA, vii)Delay in implementation of Bio Incubator Facility, viii) Delay in Notifying Categorisation /Combined Forms/Fee Structure by GSPCB, etc.

Press and Media gave a wide publicity to the issues raised by GSIA in their esteemed publications.

Press & Media covering the Press Conference

www.GSIA.in


S T IOA

NOG


January 2011

a

05

th

Service Tax Payment by Companies /Individuals / Proprietors / Partnerships

b

07t h

TDS Payment

c. 15th

i) PF Payment ii) TDS/TCS Quarterly FBT- all Assesses

d 20th

VAT payment - Tax > 100000

e 21st

ESIC

f. 30th

VAT payment - Tax < 100000

November 2010a .

05

th

Service Tax Payment by Companies

b.

07th

TDS Payment

c.

15th

PF Payment

d. 20th

VAT payment - Tax > 100000e. 21

stESIC Payment

f. 30th


g. 30th VAT Quarterly Returns for October to December

h. 31st VAT Audit report (Turnover > Rs 1 crore)

8

Directory of Meetings for the months of SEPT-OCT 2010

by CA Ashish Verlekar, GSIA

Compliance Calendaryour business

Date Meeting Attended by

09/11/10 14th Meeting of Micro and Small Enterprises Facilitation Council at DITC

Executive Secretary

15/11/10 Third Meeting on allotment of plots to Small Entrepreneurs, GIDC

President

15/11/10 Regional Advisory Committee Meeting of Customs, Central Excise and Service Tax

Executive Secretary

16/11/10 Rate Contract Committee Meeting, GHRSSIDC

Rajkumar Kamat

23/11/10 2nd Meeting of Task Force Committee on Unutilized & Underutilized Plot held at Industries Department, Secretariat

President

27/11/10 Meeting on Constitution of International Arbitration Council for the State of Goa by Law Commission, held at GCCI.

President/ Executive Secretary

02/12/10 123rd Board Meeting of GHRSSIDC. Executive Secretary

07/12/10 Meeting of the Task Force Committee on Unutilized and Underutilized plots held at Industries Department, Secretariat.

President

15/12/10 Power Advisory Committee Meeting of Electricity Department held at Secretariat

Mr. Atul Pai Kane

17/12/10 SLIIC Committee Meeting Executive Secretary

December 2010

a

05

th

Service Tax Payment by Companies

b

07t h

TDS Payment

c. 15th

i) PF Payment ii) Advance Income Tax &FBT- all Assesses

d 20th

VAT payment - Tax > 100000

e 21st

ESIC Payment

f. 30th



S T IOA

NOG


Important Correspondence

www.GSIA.in 9

Letter dtd.

Addressed to Subject

10/11/10 Mr. Vallabh Kamat, Commissioner of Commercial Taxes, Panaji Goa

Clarification sought regarding the email received by M/s Saishiv Boards and Tops Pvt. Ltd from from CTO - Mapusa regarding payment of taxes for the period 9/05/2010 to 30/09/2010 and extension of the additional period under NPV from 1/10/2010.

23/11/10 Mr. M.P. Rajagopalan

Asst. Gen Manager,

State Bank of

India,

Panaji Goa

Thanking for participating and sponsoring Rs. 10,000/-

for Export Awareness Programme held on 19 th

November 2010.

23/11/10 Mr. Avil D'Mello Foreign Trade Development Officer, DGFT, Panaji Goa

Thanking for participating in the Export Awareness Programme held on 19th

November 2010.

29/11/10 Shri. T. M. Balakrishnan

Secretary(Industries), Porvoirm Goa

On the issue-

Excise Notices on NPV Scheme -

requesting for a meeting with Chief Minister.

01/12/10 Shri. Rajesh P. Lolayekar

Asst. Director (Trg)& Member Secretary, HRDF, Panaji Goa

Recommending name of Mr. Sudesh Rane for reconstitution of Governing Committee of HRDF Society

04/12/10 Shri. P.V.N. Suresh Babu

Addl. Commissioner

Customs, Central Excise & Service Tax, Panaji Goa

Recommending name of Mr. Atul P. Naik on Public Grievance Committee of Customs and Central Excise, Panaji Goa.

07/12/10 The Managing Director

Goa IDC, Panaji Goa

09/12/10 The Editor, Navhind Times, Panaji Goa

Clarifying doubts raised in the Editorial “ Undertake Energy audit” of December 8, 2010

10/12/10 Shri. Nagendra Kumar, IAS

Secretary (Transport), Secretariat Goa

On the issue -Entry of Heavy goods traffic to Mapusa Industrial Estate

10/12/10 Mr. A.V.Deshpande

S.P.Traffic,

Police HQ, Panaji Goar

On the issue -Entry of Heavy goods traffic to Mapusa Industrial Estate

11/12/10 Asst. Director(F), MSMEDI, Margao Goa

Agreeing to associate with MSMEDI, Margao in organising Sensitization Programme on Bar Code.

14/12/10 T.M. Balakrishnan Secretary(Industries),

Secretariat Goa

Requesting to instruct the concerned Officials to expedite the process of physical verification of all Unutilized/ Underutilized, underdeveloped and closed units in the Industrial Estates.

16/12/10 Mr. Vallabh Kamat, Commissioner of Commercial Taxes,Panaji Goa

Thanking for taking prompt action in the matter of -Extension of NPV Period for 2 years of M/s Saishiv Boards & Tops Pvt. Ltd.

On the issue - Allotment of Plots to Small Entrepreneurs - reiteratingGSIA's stand for utmost transparency for allotment and transfer ofplots by GIDC.

10

more details. The returns shall indicate the details of 1. AMENDMENT OF THE GOA payments of tax effected during a quarter. Wherever the tax

VALUE ADDED TAX (EIGHT payments are made physically, the duplicate copies of the challans showing payment of tax shall be filed with the AMENDMENT) RULES, 2010Appropriate Assessing Authority, immediately, upon filing such returns”.Official Gazette — Govt. of Goa, Department of Finance

Revenue & Control Division, Series I No. 33 By order and in the name of the Governor of Goa.(Extraordinary) 11th November, 2010 Panaji ,

Notification 4/5/2005-Fin(R&C)(83).Surendra F. Naik, Under Secretary, Finance (R&C).Porvorim, 11th November, 2010.In exercise of the powers conferred by sub-section (1) and

(2) of section 83 of the Goa Value Added Tax Act, 2005 (Goa Act 9 of 2005), and all other powers enabling it in this behalf, the Government of Goa hereby makes the following rules so as to further amend the Goa Value Added Tax Rules, 2005, namely:—

1. Short title and commencement.— (1) These rules may be called the Goa Value Added Tax (Eight Amendment) Rules, 2010.

(2) They shall come into force at once.2. Amendment of rule 23.— In rule 23 of the Goa Value Added Tax Rules, 2005,— (i) in sub-rule (3), the expression “The registered dealer whose monthly tax liability exceeds Rs. 1.00 lakhs shall, from such date as the Government may, by notification published in the Official Gazette, specify, file his quarterly return online through electronic systems by availing a system code number from the office of the commissioner, for filing such returns.” shall be omitted;

(ii) after sub-rule (3), the following sub-rule shall be inserted, namely:—“(3A)(i) The Government may, by notification published in the Official Gazette, specify the date and the dealer or class of dealers, who shall file their quarterly returns through electronic system, by such date, by availing a system code from the Appropriate Assessing Authority:

Provided that, any dealer who is not liable to file returns through electronic system as per clause (i) above, may, if he so desires, opt for filing his quarterly returns through electronic system by availing a system code from the Appropriate Assessing Authority.

(ii) A dealer liable or opting to file returns through electronic system shall enter the data in accordance with the instructions that are applicable for filing the returns through electronic system.

The dealer may visit the Department's official website for

Important Notification& Circulars


S T IOA

NOG


www.GSIA.in

www.GSIA.in


S T IOA

NOG


11

For Kind Attention of Members

1. DOCUMENT IDENTIFICATION 2. HOPE FOR CONSENSUS ON GSTNUMBER FOR INCOME-TAX

Finance Minister Mr. Pranab Mukherjee said the Centre is willing to accommodate States' concerns to ensure speedy Taxpayers will now have to procure a 'new number' for implementation of the proposed Goods and Services Tax filing returns and making any communication with the (GST). Income Tax department. The unique document

identification number (DIN), on the lines of numbers like This is an indication that the Centre may make another PAN and TAN, will be quoted on “every” income tax-attempt to break the logjam in talks on the constitutional related communication, including returns to be filed next amendment needed to implement the country's year for the financial year2010-11. According to the new comprehensive indirect tax reform. “The Central guidelines brought out by the Central Board of Direct Government , with a view to evolve a consensus , is willing Taxes (CBDT), the DIN will be mandatory “in respect of to consider a phased approach for the introduction of GST,” every notice, order, letter or any correspondence” with Mr Mukherjee said in his address at a seminar organised by the department, by the taxpayers. “The DIN will be the Comptroller & Auditor General of India. generated by the I-T department and will be useful,

essentially, for error-free filing of tax returns claiming The GST is already delayed by a year and will miss the new refunds and other communication with the department by deadline of April 1, 2011 because of the lack of consensus the assesses,” a senior finance ministry official said. The between the Centre and the States. Aykar Sampark Kendras' will hand out the DIN from this

month.It will replace multiple indirect taxes levied by the Centre and the States with a neat single levy, which will help reduce The related section under the Income-tax Act is administrative costs, create a national market and prevent reproduced herewith as below – evasion.

Income-Tax Act, 1961 as amended by Finance Act The single tax will subsume State level value added tax, 282B - Allotment of Document Identification Number octroi, entry tax and central taxes including excise duty and 75[Allotment of Document Identification Number. service tax. 282B. (1) Every income-tax authority shall 75a[, on or

after the 1st day of July, 2011,] allot a computer generated “It will not only dismantle the complexities and non-Document Identification Number in respect of every transparency in tax regime for goods and services but also notice, order, letter or any correspondence issued by him encourage a consumer friendly product pricing that should to any other income-tax authority or assessee or any other benefit the “aam admi,” Mr Mukherjee said. person and such number shall be quoted thereon.

Mr Mukherjee said the government would like to implement (2) Where the notice, order, letter or any correspondence, the new tax together with the new Direct Taxes Code from issued by any income-tax authority, does not bear a 2012-13 , which is slated to replace the archaic Income Tax Document Identification Number referred to in sub-Act, from April 1, 2012. “It is my earnest hope that there will section (1), such notice, order, letter or any be a convergence of views on this draft so that the required correspondence shall be treated as invalid and shall be bill for making these amendments could be introduced in deemed never to have been issued.Parliament at the earliest ,” he said.

(3) Every document, letter or any correspondence, The States have in principle agreed with the need for a received 75b[, on or after the 1st day of July, 2011,] by an reform in the regime for indirect taxes, but fear the structure income-tax authority or on behalf of such authority, shall proposed by the Centre will undermine their fiscal be accepted only after allotting and quoting of a computer autonomy. generated Document Identification Number.

The empowered committee of State Finance Ministers has (4) Where the document, letter or any correspondence been unable to formulate any consensus on the Centre's received by any income-tax authority or on behalf of such proposal on constitutional amendment bill necessary to roll authority does not bear the Document Identification out GST. Number referred to in sub-section (3), such document,

letter or any correspondence shall be treated as invalid Some States are opposed to the Centre's proposal for and shall be deemed never to have been received.].

www.GSIA.in


S T IOA

NOG


12

creation of a dispute settlement mechanism through because the Centre cannot impose tax on retail sale of constitutional amendment. goods and States do not have powers to levy service tax.

The proposed GST is to have two components, one Central The Finance Minister said “ in a multi-party , multi-ethnic GST and one State GST. country like India, divergent views are bound to occur and hoped that consensus would be found in the empowered Source: Economic Times-15/12/10 committee over the issue”.

Constitutional amendments are required to implement GST

www.GSIA.in


S T IOA

NOG


13

www.GSIA.in


S T IOA

NOG


14

gsia bi-monthly news bulletin goa state industries … · 2011-01-24 · 4 d u strie s n a i s e s...

Documents