Industry Events in India
Industry members of the Peenya Industries Association can explore new business avenues by participating in business events, industrial events, trade events, expos, exhibitions and more. Events organised in major cities in India are listed here. Click the link accompanying the event that you want to participate. Industry members will surely benefit by participating in the business events, industrial events, trade events, expos, exhibitions, through collaboration with companies in similar sectors, or clients that seek to work with the industry members.
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PIA Interaction with Commercial Taxes Commissioner in June
June 15, 2018
The Commissioner of Commercial Taxes will be visiting the Peenya Industries Association (PIA) on 15 June 2018. Topics such as Goods and Service Tax (GST), tax compliance, grievances are likely to be discussed.
This meeting may assume significance since it would be held fifteen days before the first anniversary of the GST implementation. The central government launched the GST on 1 July 2017.
The first three months of the GST regime had witnessed grievances submitted by small-scale industrialists and exporters. The government redid the GST regime for small businesses with turnover up to INR 1 crore. GST composition scheme was made simpler; small businesses could pay and file returns every quarter; service providers with turnover up to INR 20 lakhs need not register even if making inter-state supplies. Reverse charge mechanism was deferred until March 2018, and all businesses under the composition scheme were granted more time for filing returns.
The fears of a tax revenue dip after GST introduction has been allayed. There is an increase of 13% in the commercial tax revenue of the Karnataka government. The downward reduction of GST on certain selected goods let to an increase in the volume of business transactions, contributing to the additional tax income of the government.