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Clear picture of GST revenue after 3-4 months, says Adhia
New Delhi, Oct 16 (IANS) Acknowledging that compliance of the Goods and Services Tax (GST) is still low, Revenue Secretary Hasmukh Adhia on Monday said a clear picture of revenue under the new indirect tax regime can be drawn only after three-four months.
“Most of the revenue that has come is in the form of Integrated GST. We will have to wait for 3-4 months for a clearer picture. I haven’t been able to make sense of GST revenue as it includes IGST revenue. We will have a clearer picture once IGST is converted into Central GST and State GST,” Adhia said here.
While speaking at a townhall discussion organised by CNBC-TV18 and industry body Confederation of Indian Industry (CII), he said: “GST compliance is still low. Compliance will fall further if penalty for late filing of returns is dropped.”
For September, 10 lakh returns had been filed till October 16, the Revenue Secretary said.
Adhia, however, noted that the issues cropping up in the new indirect tax regime had come down in the last 40-45 days.
“In the last 40-45 days, GSTN issues have come down. We must have a system that plugs all loopholes. We have not seen any major impediments with respect to GST in the last few weeks,” he said.
He added that the government was working on improving the ease of doing business under GST.
“We will study all aspects, suggestions that could improve ease of doing business. The Group of Ministers is still looking at issues related to Composition Scheme,” he said.
Adhia said there was a need to rationalise items under the 28 per cent tax slab, which would be done over a period of time.
“Fitment Committee will periodically check if rate revisions are required, warranted,” he said.
He, however, ruled out doing away with the reverse charge mechanism and e-way bill, adding that it would mean returning to the old system of taxation.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.