gst-day-celebrations-in-coimbatore-highlight-achievements

The GST and Central Excise Commissionerate in Coimbatore celebrated 'GST Day' with a grand event attended by numerous dignitaries and officials. N Rengaraj, IRS, the Principal Commissioner of Income Tax in Coimbatore, served as the Chief Guest, while SK Sundararaman, Managing Director of M/s Shiva Texyarn Limited and Chairman of The South India Mills Association, was the Guest of Honour.

 

Banoth Mrugender Lal, IAS, Joint Commissioner (CT), was the Guest of Event. The occasion also saw participation from various business leaders, auditors, accountants, and government officials from both Central and State levels.

 

The keynote address was delivered by K Ramakrishnan, who emphasised the empowerment brought about by the GST Network. He highlighted how this platform has facilitated a more efficient, transparent, and user-friendly system for both taxpayers and tax officials. Ramakrishnan noted the significant growth in the number of taxpayers in the GST and Central Excise Commissionerate, Coimbatore, which has risen from 26,744 in July 2017, when GST was introduced, to 81,552 in 2023-2024.

 

This represents a 204 percent increase in the tax base. Furthermore, he mentioned that the tax revenue collected by the Commissionerate increased from Rs 1,106 crore in 2017-18 to Rs 3,390 crore in 2023-24, marking a 206 percent increase.

 

Banoth Mrugender Lal, IAS, in his address, informed the attendees that there are approximately 77,000 assesses in Coimbatore State GST, distributed across 36 Circles. He reported that the gross revenue for the previous financial year was Rs 3,810 Crores.

 

Sundararaman, Managing Director of M/s Shiva Texyarn Limited, also spoke at the event, acknowledging the efforts of the Departmental Officers. He pointed out that a 1 percent increase in GST corresponds to a 0.6 percent growth in the economy.

 

Representing the textile industry, Sundararaman noted that the sector is recovering from the recession, with Tamil Nadu accounting for 46 percent of the spinning and weaving capacity in the country.

 

Chief Guest N Rengaraj, in his speech, underscored the collaborative relationship between the Central Board of Indirect Taxes and Customs (CBIC) and the Central Board of Direct Taxes (CBDT), both of which operate under the same Ministry.

 

He highlighted the Memorandum of Understanding signed between the CBIC and CBDT in 2020 for data sharing. Additionally, he mentioned that the Income Tax department has amended Form 3CB to incorporate GST Data.

 

During the event, high revenue achievers in terms of tax payment, as well as successful entrepreneurs and exporters, were recognized and honoured. The celebration saw the felicitation of two large taxpayers, two medium taxpayers, two small taxpayers, and two exporters for their outstanding performance.

 

Furthermore, 'Samman Patra' was awarded to 15 officers for their exemplary service, including one officer in the rank of Deputy Director (Cost). Two officers who excelled in sports were also honoured for their achievements.

 

The 'GST Day' celebration in Coimbatore thus highlighted the progress and achievements of the GST and Central Excise Commissionerate, showcasing the growth in taxpayer numbers and revenue, and recognizing the contributions of individuals and businesses to the system.