Page 9 - Craftcil July 2017
P. 9

I   n focus

           Goods & Services Tax (GST)

            EPCH ropes in expert faculty for guidance and handicraft sector’s

            transition into new regime as the nation’s major tax reform becomes

            a reality, poses procedural bottlenecks for handicraft exporters

               The Goods & Services Tax (GST) has been in force w.e.f. 1st July 2017. This is a comprehensive tax levied on manufacture, sale
           and consumption of goods and services at a national level that integrates the state economies, impacting the tax structure, tax
           incidence, tax computation, tax payment, compliance, credit utilisation and reporting, leading to a complete overhaul of the
           current indirect tax system. It is already impacting almost all aspects of business operations in the country. Owing to this, there has
           been anxiety among manufacturers and exporters in the industry. In order to educate exporters about the implication of the GST
           on the handicrafts sector and also how to migrate to the new tax regime, EPCH  conducted awareness seminars in several craft
           hubs and clusters across India throught the months of May and June. EPCH also made representations to concerned Govt.
           departments for relief to the handicrafts industry. EPCH has been in constant dialogue with these concerned departments to offer
           clarity to exporters regarding the procedural bottlenecks they are being encountered with.

            9  July 2017;  Open House in New Delhi                About 300
               Since GST became applicable, several shipments of  participated to
           exporters were held up  for want of various clarifications from  bring forth
           the Department of Central Board of Excise and Customs,  major issues
           primarily on the issue of payment of GST while exporting.  The  pertaining to
           intention of the Government has been very much clear from  shipment on
           the beginning that exports shall be zero rated taxwise as taxes  payment of
           cannot be exported. In view of the queries amongst the  GST. The     Chairman, EPCH, Mr.  O P Prahladka; and Executive
           exporters, an urgent open house meeting was organised with  Department of  Director, EPCH, Mr. Rakesh Kumar address the
           senior officials of the Central Board of Excise and Customs.  Central Board  gathering at the Open House
               Mr. Pradeep Goel, Commissioner, Central Board of Excise &  of Excise and
           Custom (CBEC) & Head of Handicrafts sectoral group, chaired  Customs had
           the open house. Present on the ocassion to answer exporters’  informed the
           queries were, Mr. Sunil K Sinha, Commissioner Customs, IGI  exporters
           Airport; Mr. Sanjiv Srivastava, Commissioner, Customs,  about  the
           Tuglakabad; Mr. H K Sharma, Additional  Commissioner, Customs,  notification/
           Dadri;  Smt. Babni Lal, Economic Advisor, Ministry of Textiles,  circular issued
           Govt. of India; Dr. Ajay Sahai, Director General & CEO, FIEO; and  on 7th July,  An exporter raising a query
           Mr. R K Gupta, Chartered Accountant, Bhatia & Bhatia. Chairman,  2017
           EPCH, Mr.  O P Prahladka; Executive Director, EPCH, Mr. Rakesh  providing relief to  exporters to export their goods on
           Kumar and members of the Council’s Committee of        submission of ‘letter of undertaking’ instead of issuing bond
           Administration were also present.                      and depositing integrated goods and service tax. The exporters

                                                                                           CRAFTCIL • July 2017   9
   4   5   6   7   8   9   10   11   12   13   14