Union minister Smriti Irani chaired a workshop to assess the readiness of the textiles sector PSUs, export promotion councils and other stakeholders on the Goods and Services Tax (GST).
Several transition issues relating to procedures to be followed on registration, migration, refund, credit for duty paid on stock, etc were discussed in detail during the meeting, which was also attended by Revenue Secretary Hasmukh Adhia.
"During the one-hour talk by the Revenue Secretary, he gave a brief overview and the philosophy behind the tax structure for the textile sector and clarified the doubts raised by industry participants," an official statement said.
On May 4, the textiles ministry had directed all its export promotion councils and public sector undertakings to conduct awareness camps on basic features and procedures of the GST, set to be rolled out from July 1.
"Workshop conducted today will further benefit officials, EPCs and PSUs in spreading awareness among traders/ manufacturers across the country," Irani said in a series of tweets.
"Most PSUs have completed or are at different stages of registration, migration/transition of their software to a GST compatible software," she said.
The Clothing Manufacturers' Association of India (CMAI) made a presentation on a software named 'Adhigam', which has been developed by TCS, for use of CMAI members.
The software offers multi-lingual solutions and essentially aims at making the small manufacturers and traders GST ready. The software also enables traders to scan the existing invoice and translate it into a GSTN-compliant invoice.
It operates on the principle of inter-locking and will enable matching and marrying of Input Tax credit of invoices in the value chain, with automatic reminders to the vendor to pay tax when he has not done so.
About 175 officials of the ministry, its PSUs and members of export promotion councils participated in the workshop.
The workshop was held in partnership with the National Academy of Customs, Excise and Narcotics under the Department of Revenue, the Ministry of Finance.
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