Powerd By SAG INFOTECH
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Earlier, the role of CFO was limited to managing accounting and capital expenditure but now in the modern era, his role has been widened. It has become more strategic to meet the challenges faced by the Indian economy. As studied by various experts upon this particular role into an organisation, there was uncovered a new story.
Upcoming GST regime will be giving some serious authority to the GST officers to make a vigilant and strict move towards the fickle minded business units. The GST regime in its provisions and clause gives the power to the GST officer to term 5 years of jail to any convicted businessman in the case of proved conviction. The GST officer can also impose a heavy penalty over the particular convicted businessman or trader who is booked under the tax evasion case by the vigilant team.
It’s time for uncertainty as the Indian Revenue Service officers are in very much confusion regarding the decision which GST council threw upon the central board of revenue. The decision has been seen in a very panicked way as the imposed rule will flush out almost all the population of employees comprising the central board. In this regard Association of Indian Revenue Services (IRS) officers has also mailed a letter to the prime minister to seek redressal into this matter.
Goods and service tax in India has been in the topics for a long time, and with its extended talked about issues such as dual control which almost took half of the sessions arranged for the implementation but took a turn towards tentacle discussions.
The old issue of assesses control has been replied by The Indian Revenue Service (Customs and Central Excise) officers’ association who has demanded the council to give the authority of assessing all the taxpayers under the turnover of lesser than 1.5 crores to the centre.
The protest has turned into a positive one, as the income tax officers all over the nation worked on Sundays to keep their demands over the fair share in the administration of taxes under the upcoming GST scheme. All India Confederation of Commercial Taxes Association (AICCTA), declares that around 36,000 Gazetted officers and about two lakh employees of Class-III and IV categories were present on Sunday to show their protest in a positive manner.
The GST is approaching very quick towards the implementation and in this hassle, there is a tense environment created within the officials of the Central Board of Excise and Customs which are very much thoughtful and doubtful about their jobs security. An Indian Revenue Service officer said, “If the government thought, a change as big as GST will not lead to any protests, then they are functioning in a utopian world.”
The central excise and customs department has declared a protest will be held stretching across the nation and a mass casual leave will be taken on ‘budget day’ to show off the discontentment regarding the issue of GST and its implementation.
The GST council will be playing a very significant role in the implementation of the new taxation regime across the country. While carrying important aspects, the council will be responsible for all the major decisions and roll out regarding the taxation structure.
