Home ECONOMY Odisha for declaration of consignee address on all inter-state transactions

Odisha for declaration of consignee address on all inter-state transactions

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Odisha Sun Times Bureau
Bhubaneswar, May 8:

Apprehending substantial loss of revenue for consuming states, Odisha has proposed mandatory declaration of the adress of consignee/buyer address in all invoices in case of inter-state transactions at the two-day meet of the Empowered Committee of Finance Ministers on GST at Thiruvananthapuram.

Finance Minister Pradip Kumar Amat
Finance Minister Pradip Kumar Amat

As per the joint committee’s proposal, declaration of the consignee/buyer’s address is mandatory in the invoice only if the transacted amount is Rs 50,000 or more which is categorized under inter-state transaction. But transactions below Rs 50,000 having no declaration of consignee/buyer’s address will still be considered intra-state transaction.

Odisha contested this provision arguing that businessmen would be encouraged to take the dubious route of declaring inter-state transactions below Rs 50,000 as intra-state transactions resulting in loss to exchequer.

Therefore, it should be made mandatory to provide consignee details in case of all inter-state transactions/shipments, Finance minister Pradip Aamat argued.

Amat also urged the Centre to implement uniform tax rates throughout the country on dal, wheat, wheat products and other agricultural products in this category. The Minister claimed that Odisha traders and consumers are incurring hefty losses due to varying tax rates prevalent across the country.

Additional Chief Secretary (Finance) R Balakrishnan, who represented Odisha at the Empowered Committee meeting of Finance Ministers on GST, presented the state’s demands to be included in the agenda.

He met GST Empowered Committee Chairman K M Mani and discussed various demands of the state.

Compensation for losses due to CST also came up for discussion during the meet.

While the state had claimed Rs 1885.78 crore towards CST compensation for the period between 2007-08 to 2010-11 the Centre has paid Rs 1626.58 crore by April 30 this year.

The state has claimed Rs 2834.43 towards CST compensation for the period 2011-12 to 2013-14