Coimbatore Celebrates GST Day: 7 Years of Growth and Development
Coimbatore (Tamil Nadu) celebrated ‘GST Day’ at the GST and Central Excise Commissionerate, marking seven years since the Goods and Services Tax (GST) laws were implemented on July 1, 2017. The event, held at GST Bhavan, Race Course Road, was themed ‘Strong Business and Overall Development.’
Key Figures and Guests
The event was presided over by K Ramakrishnan, IRS Commissioner of GST and Central Excise, Coimbatore. N Rengaraj, IRS, Principal Commissioner of Income Tax, Coimbatore, was the Chief Guest. SK Sundararaman, Managing Director of 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.
Speeches and Highlights
K Ramakrishnan delivered the keynote address, highlighting the GST Network’s role in creating a more efficient, transparent, and user-friendly system. He noted a 204% increase in taxpayers, from 26,744 in July 2017 to 81,552 in 2023-2024, and a 206% rise in tax revenue, from Rs 1106 crore in 2017-18 to Rs 3390 crore in 2023-24.
Banoth Mrugender Lal mentioned that Coimbatore State GST has approximately 77,000 assesses across 36 Circles, with a gross revenue of Rs 3,810 Crores for the previous financial year. SK Sundararaman acknowledged the Departmental Officers’ work and noted that 1% of GST shows 0.6% economic growth. He also mentioned that 46% of the spinning and weaving capacity is in Tamil Nadu.
N Rengaraj highlighted the relationship between the CBIC and CBDT, noting a Memorandum of Understanding signed in 2020 for data sharing. He also mentioned the amendment of Form 3CB to incorporate GST Data.
Honors and Felicitations
High revenue achievers, entrepreneurs, and exporters were honored at the event. Two large taxpayers, two medium taxpayers, two small taxpayers, and two exporters were felicitated. ‘Samman Patra’ was issued to 15 officers for their meritorious service, including one Deputy Director (Cost). Two officers excelling in sports were also felicitated.