Friday, December 27, 2024
[tds_menu_login inline="yes" guest_tdicon="td-icon-profile" toggle_txt="My account" logout_tdicon="td-icon-log-out" menu_gh_txt="Get into your account." tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjAiLCJkaXNwbGF5IjoiIn19" f_uh_font_family="653" f_links_font_family="653" f_uf_font_family="653" f_uh_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_links_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_uf_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_uh_font_weight="500" f_links_font_weight="500" f_uf_font_weight="500" f_toggle_font_family="653" f_toggle_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_toggle_font_weight="500" ia_space="8" menu_offset_top="15" show_version="" f_gh_font_family="653" f_btn1_font_family="653" f_btn2_font_family="653" f_gh_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_btn1_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_btn2_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_gh_font_weight="500" f_btn1_font_weight="500" f_btn2_font_weight="500" menu_gc_btn1_bg_color="#ec3535" menu_gc_btn1_bg_color_h="#000000" menu_gc_btn2_color="#000000" menu_gc_btn2_color_h="#ec3535" menu_gc_btn1_radius="4" menu_ul_link_color="#000000" menu_ul_link_color_h="#ec3535" menu_uf_txt_color="#000000" menu_uf_txt_color_h="#ec3535" show_menu="yes"]

Cheema writes to Sitharaman, seeks her personal intervention in taking into account reversal of Input Tax Credit for IGST settlement

Date:

Chandigarh, August 23

Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema on Tuesday sought personal intervention of Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman in taking into account the reversal of Input Tax Credit by the taxpayers registered within the state for the IGST settlement.

In a letter to Union Finance Minister, Harpal Singh Cheema said that It has been observed that although the taxpayers registered within the State have carried out reversal of huge amount of Input Tax Credit but the same has not been considered for the IGST settlement.

“Particular instance has been identified of M/s HPCL Mittal Energy Limited (GSTIN 03AABCG5231FIZ8) which has reversed ITC to the tune of Rs. 223 crores in financial year 2018-19, Rs. 230 Crores in FY 2019-20 and Rs. 227 crores in financial year 2020-21 respectively”, said Cheema.

He further added that the said amount has not been taken into account while undertaking the process of IGST settlement for the said period thereby depriving the State of its rightful share of rrevenue “I have been informed that this issue has been consistently and constantly raised by my officers with the Government of India but no solution has emerged till now” said Cheema.

Referring to the grave importance of the issue for the revenue of the state, Cheema urged the Union Minister that her personal intervention is of much importance for the resolution of this matter as early as possible. He said that the significance of this issue resonates more strongly in light of the expiry of the GST compensation regime.

Discussions

Discussions

iGlobal Punjab
iGlobal Punjab
Punjab is no longer just a state but a State of Mind: A way to live!! ...So Let's Burrraaah with Punjabi Khurki!

Share post:

[tds_leads title_text="Subscribe" input_placeholder="Email address" btn_horiz_align="content-horiz-center" pp_checkbox="yes" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" f_title_font_family="653" f_title_font_size="eyJhbGwiOiIyNCIsInBvcnRyYWl0IjoiMjAiLCJsYW5kc2NhcGUiOiIyMiJ9" f_title_font_line_height="1" f_title_font_weight="700" f_title_font_spacing="-1" msg_composer="success" display="column" gap="10" input_padd="eyJhbGwiOiIxNXB4IDEwcHgiLCJsYW5kc2NhcGUiOiIxMnB4IDhweCIsInBvcnRyYWl0IjoiMTBweCA2cHgifQ==" input_border="1" btn_text="I want in" btn_tdicon="tdc-font-tdmp tdc-font-tdmp-arrow-right" btn_icon_size="eyJhbGwiOiIxOSIsImxhbmRzY2FwZSI6IjE3IiwicG9ydHJhaXQiOiIxNSJ9" btn_icon_space="eyJhbGwiOiI1IiwicG9ydHJhaXQiOiIzIn0=" btn_radius="3" input_radius="3" f_msg_font_family="653" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_msg_font_weight="600" f_msg_font_line_height="1.4" f_input_font_family="653" f_input_font_size="eyJhbGwiOiIxNCIsImxhbmRzY2FwZSI6IjEzIiwicG9ydHJhaXQiOiIxMiJ9" f_input_font_line_height="1.2" f_btn_font_family="653" f_input_font_weight="500" f_btn_font_size="eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMSJ9" f_btn_font_line_height="1.2" f_btn_font_weight="700" f_pp_font_family="653" f_pp_font_size="eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMSJ9" f_pp_font_line_height="1.2" pp_check_color="#000000" pp_check_color_a="#ec3535" pp_check_color_a_h="#c11f1f" f_btn_font_transform="uppercase" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJsYW5kc2NhcGUiOnsibWFyZ2luLWJvdHRvbSI6IjM1IiwiZGlzcGxheSI6IiJ9LCJsYW5kc2NhcGVfbWF4X3dpZHRoIjoxMTQwLCJsYW5kc2NhcGVfbWluX3dpZHRoIjoxMDE5LCJwb3J0cmFpdCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3Njh9" msg_succ_radius="2" btn_bg="#ec3535" btn_bg_h="#c11f1f" title_space="eyJwb3J0cmFpdCI6IjEyIiwibGFuZHNjYXBlIjoiMTQiLCJhbGwiOiIxOCJ9" msg_space="eyJsYW5kc2NhcGUiOiIwIDAgMTJweCJ9" btn_padd="eyJsYW5kc2NhcGUiOiIxMiIsInBvcnRyYWl0IjoiMTBweCJ9" msg_padd="eyJwb3J0cmFpdCI6IjZweCAxMHB4In0="]
Advertisementspot_img
Advertisementspot_img

Popular

More like this
Related

The Journey of Advocacy for Better Communities Foundation

Calgary, Alberta, April 26: In the bustling city of...

ED chief Sanjay Mishra gets tenure extension from SC till September 15

New Delhi, July 27: The Supreme Court on Thursday...

Patiala tops list of villages hit by recent floods; 27,286 evacuations carried out

Chandigarh, July 27: The State Government machinery has been...

Mann slams Modi govt, seeks President’s Rule in Manipur

New Delhi/ Chandigarh, July 27: Punjab Chief Minister Bhagwant...