New Delhi, India – ICEA welcomes linkage of customs portal for auto upload of import IGST for set off against domestic GST, reform will cut compliance burden and boost ease of doing business. The integration between customs ICEGATE portal and GSTN adds to the ease of doing business and the Hon’ble PMs vision to make India ‘Atmanirbhar’. The IGST on import transaction 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. This is on 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. 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
“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”, says Mr. Pankaj Mohindroo, Chairman ICEA.
“It’s a great relief to the industry — says Mr. Bibhash Deb, Chairman- GST Taskforce & Indirect Tax Committee- ICEA.
‘’ICEA will continue to work in sync with GOI towards making processes more trade and industry friendly’’ Mr. Ramachandran Ramamoorthy- Co-Chairman, GST Taskforce & Indirect Tax Committee- ICEA.
About ICEA: ICEA is the apex industry body for mobile and electronics industry comprising of manufacturers, brand owners, technology providers, VAS application & solution providers, distributors and retail chains of mobile handsets and electronics. ICEA is committed to carrying forward its vision of building Indian manufacturing and design in verticals other than mobile handsets while consolidating the gains made in the mobile handset and components industry. ICEA is fully devoted towards improving the competitiveness and growth of the industry by closely working with the ministries of the Government for creating a robust, legal and ethical electronics industry, thereby creating an innovative market environment in the country.
