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IHMCL, GSTN to ink pact to link FASTag with GST e-way bill system on Oct 14

IHMCL, GSTN to ink pact to link FASTag with GST e-way bill system on Oct 14

The Indian Highways Management Company Ltd (IHMCL) and Goods and Services Tax Network (GSTN) will sign a memorandum of understanding on Monday for integration of FASTag with GST e-way bill system.

The memorandum of understanding (MoU) will be inked at the ‘One Nation, One FASTag’ conference, which will be inaugurated by Road Transport and Highway Minister Nitin Gadkari.

FASTag is a simple to use, reloadable tag which enables automatic deduction of toll charges and lets vehicle pass through toll plaza without stopping for cash transaction.

An MoU will be signed between IHMCL and GSTN for integration of FASTag with GST e-way bill system, an official statement said.

The GST Council has already accorded ‘in-principle’ approval for this integration.

The integration of e-way bill system with FASTag will help revenue authorities track the movement of vehicles and ensure that they are travelling to the same destination that the transporter or the trader had specified while generating the e-way bill, the statement added.

“The conference will see the signing of MoUs with state departments/other agencies for bringing in a unified electronic tolling solution across the country,” it added.

This would mean enabling the use of the same FASTag, affixed on the windscreen of a vehicle, at every toll plaza in the country under jurisdiction of different states /agencies and other entities. This will help provide seamless services to consumers across the country, it said.

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Source: Economic-Times

At 89.67%, Chandigarh tops GST chart in country

At 89.67%, Chandigarh tops GST chart in country

Leading over all states and Union Territories of the country, Chandigarh ranked first in the country in the Goods and Service Tax (GST) collections by registering 89.67% filing of GST returns in the first six months of the current financial year, from April 1 till September 30.

In a first-of-its-kind achievement since the launch of GST in 2017, Chandigarh posted record filing of returns to top the chart in the first-half of 2019-20 fiscal, leaving behind Punjab, Gujarat and Haryana, which rank 2nd, 3rd and 4th, respectively, while the national average is estimated at 80.1%.
According to the records, Chandigarh has around 30,000 GST number holders from different segments, but automobile industry, screw manufacturers, sanitaryware manufacturers, electronics and hotels are the core areas from where the UT gets maximum GST revenue.

Out of these 30,000 registered GST entities, 18,000 are come under the purview of the excise and taxation department of the Chandigarh administration, while the remaining 12,000 are under the central government. As per the records, in the first six months of the current financial year, recovery of GST under Chandigarh administration is estimated at 94.70%, while for the Centre, the figure stands at 84.64%, which together work out to an average of 89.67%.

“Different teams of the department have been working rigorously to ensure maximum (GST) recovery. Besides the major manufacturers, automobile industry and other major players, we keep a constant check on the small businessmen as well. Consistent check on bogus firms also played a vital role in nailing down the tax evaders and we have taken strict action against them,” said a senior officer monitoring the exercise.

“We have not been giving registration number to just any company or business entity without making a spot visit to ensure it exists. Moreover, eWay billing system, which recently started, has brought a drastic change and its report play a crucial role in catch the tax evaders. Also, regular collaboration

Source: Times-Of-India

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