This year's GST Day was celebrated at GST and Central Excise Commissionerate, Coimbatore on the theme ‘Strong Business; Overall Development’.  

Shri. K. Ramakrishnan, IRS Commissioner of GST & Central Excise, Coimbatore, presided over the function held at GST Bhavan, Race Course Road, Coimbatore. Shri N. Rengaraj, IRS, Principal Commissioner of Income Tax, Coimbatore was the Chief Guest and Dr. S.K. Sundararaman, Managing Director, M/s Shiva Texyarn Limited & Chairman, The

South India Mills’ Association was the Guest of Honour, Shri Banoth Mrugender Lal, IAS, Joint Commissioner (CT), as Guest of Event, and various business tycoons, businessmen, auditors, accountants, Central and State Government officials participated and graced the function.

Shri K. Ramakrishnan, IRS delivered his keynote address in which he stated that the Business fraternity contribute significantly to the socio-economic development of the nation thereby playing a crucial role in Indian Economy, contributing to the GDP of the country through Indirect taxes including GST and Customs, apart from earning foreign exchange through Exports of goods and services. 

As the tax base is expanding, there is a paradigm shift in document management moving from physical invoice to real time reporting of transactions. About 110 crores of e-invoices were generated during May 2024. The Information Technology plays a crucial role in the implementation and success of GST in India.

 

The Goods and Services Tax Network, or GSTN, has empowered both taxpayers and tax officials, creating a more efficient, transparent, and user-friendly system by acting as one stop platform. 

 

The number of taxpayers in GST & Central Excise Commissionerate, Coimbatore has increased from 26,744 in July 2017 when GST was introduced, to 81,552 in 2023-2024. This is about 204 per cent increase in tax base since the introduction of GST. Also, the tax revenue of the Commissionerate in 2017-18 was Rs.1106 crore which has increased to Rs 3390 crore in 2023-24. This is 206 percent increase over the GST tax revenue collected when compared with the year 2017-18. 

Robust data analytics are in place to ensure that bogus GST Registrants are found out so as to protect the genuine taxpayer in order to have a level playing field in the Market.  During the last Financial Year, registrations of such bogus entities were cancelled and criminal proceedings were initiated in the court of law apart from penal action by the Department. 

Whenever a crucial decision or a change in taxation provisions were done by the GST Council, the trade and industry were informed through regular monthly MSME meetings and communication was also done through email and twitter messages. All the doubts projected by the trade were duly clarified through the dedicated GST – SEVA KENDRA (Service Centre) facility in the Commissionerate. 

Shri Banoth Mrugender Lal, IAS, Joint Commissioner (CT), during his address, informed that there are approximate 77,000 assesses in Coimbatore State GST spread across 36 Circles.  The gross revenue for the previous financial year was Rs 3,810 Crores.  

Dr. Sundararaman, Managing Director, M/s Shiva Texyarn Limited & Chairman, The South India Mills’ Association also addressed the gathering, and acknowledged the work done by the Departmental Officers.  He informed that 1% of GST shows 0.6% economic growth.  Being the representative of Textile Industry, he informed that textile industry is coming back after recession and 46% of the spinning and weaving capacity is in Tamil Nadu.  The Indian Brands are going to be the future.  Free trade agreement is leading to lot of demand overseas.  He also affirmed that the Textile Industry would be vibrant and would continue to contribute to revenue and nation building.

Chief Guest, Shri N. Rengaraj, Principal Commissioner of Income Tax, Coimbatore during his address highlighted the relationship between the CBIC and CBDT, since both come under the same Ministry.  He also reported that the CBIC and CBDT had signed a Memorandum of Understanding in the year 2020 for sharing of data.  The Income Tax department has also amended the Form 3CB to incorporate GST Data.

High revenue achievers in terms of tax payment, Entrepreneurs and exporters who performed well were felicitated and honoured at this function.  2 Large Taxpayers, 2 Medium Taxpayers, 2 Small Taxpayers and 2 Exporters were honoured. “Samman Patra” were issued to 15 officers for their meritorious service including 1 officer in the rank of Deputy Director (Cost). 2 officers who excelled in Sports were also felicitated.

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