Apex mobile industry body, India Cellular and Electronics Association (ICEA), has welcomed the linkage of the customs portal for auto upload of import IGST for set-off against domestic GST, a reform which will cut the compliance burden and boost ease of doing business.
This is on a trial basis and will be implemented soon. The integrated system has already been shared with the public for feedback.
This will save the industry huge data entry costs of manually filling up the IGST paid on imports.
“Integration of these two mammoth databases i.e. ICEGATE and GSTN is most appropriate at this time. Currently, it is on trial basis and open for public feedback. Sustaining this reform will also drive new investments including overseas investment. Moreover, it will push the industry towards ‘Atmanirbharta’ with greater force”, said Pankaj Mohindroo, Chairman ICEA.
The portal linkage and joint effort between customs and GSTN is a remarkable achievement. It takes India a step forward towards self-sustenance due to smoother operations, says ICEA.
The integration between customs ICEGATE portal and GSTN adds to the ease of doing business and the Prime Minister’s vision of ‘Atmanirbhar’ India.
Bibhash Deb, Chairman- GST Taskforce & Indirect Tax Committee- ICEA, said, “It’s a great relief to the industry.”
The IGST on import transactions will be auto-populated in GSTR-2A, which will in turn help the industry to process their GST refunds or take input tax credit automatically.
‘’ICEA will continue to work in sync with GOI towards making processes more trade and industry-friendly,’’ added Ramachandran Ramamoorthy- Co-Chairman, GST Taskforce & Indirect Tax Committee- ICEA.