Tag Archives: CHEEMA

Chandigarh, Punjab

Cheema writes to Sitharaman, seeks her personal intervention in taking into account reversal of Input Tax Credit for IGST settlement

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IEP CHANDIGARH AUGUST 24, 2022

Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema on Tuesday sought personal intervention of Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman in taking into account the reversal of Input Tax Credit by the taxpayers registered within the state for the IGST settlement.

In a letter to Union Finance Minister, Harpal Singh Cheema said that It has been observed that although the taxpayers registered within the State have carried out reversal of huge amount of Input Tax Credit but the same has not been considered for the IGST settlement.

“Particular instance has been identified of M/s HPCL Mittal Energy Limited (GSTIN 03AABCG5231FIZ8) which has reversed ITC to the tune of Rs. 223 crores in financial year 2018-19, Rs. 230 Crores in FY 2019-20 and Rs. 227 crores in financial year 2020-21 respectively”, said Cheema.

He further added that the said amount has not been taken into account while undertaking the process of IGST settlement for the said period thereby depriving the State of its rightful share of rrevenue “I have been informed that this issue has been consistently and constantly raised by my officers with the Government of India but no solution has emerged till now” said Cheema.

Referring to the grave importance of the issue for the revenue of the state, Cheema urged the Union Minister that her personal intervention is of much importance for the resolution of this matter as early as possible. He said that the significance of this issue resonates more strongly in light of the expiry of the GST compensation regime.

Chandigarh, Punjab

Pending VAT cases to be resolved within four months: Harpal Singh Cheema

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IEP CHANDIGARH AUGUST 8, 2022

Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Monday directed the officials of the tax department to resolve all the pending VAT cases within 4 months to ensure an increase in revenue collection, that will be used for the development of the state.

During an informal interaction with media after a review meeting of the Tax Department here at Punjab Bhawan, Advocate Harpal Singh Cheema said that the department has been asked to resolve the pending cases related to VAT within 4 months. Those cases in which 25 per cent of the assessed amount has not been deposited by the appellant, they, should be resolved within one month, he directed.

He said that apart from this, the officials of the department have been directed to follow-up all the cases  under hearing in the VAT Tribunal and the High Court to put the department’s view clearly in front of these forums.

Replying to a query regarding the Electricity Amendment Bill 2022, the Finance Minister said that when Chief Minister Bhagwant Mann was a member of Parliament, he had strongly opposed the move when this bill was brought earlier by the BJP led Centre government in 2020 along with three black farm laws, At that time, then Union Minister and SAD Leader Harsimrat Kaur Badal had supported the Bill. He further added that while withdrawing this bill at that time, the central government had promised that the state governments, farmers and other stakeholders would be consulted before bringing this bill again.

But breaking its promise the BJP’ led government has once again brought the bill without consulting stakeholders.  “The BJP led Centre government is trying to appease its corporate cronies”, said Cheema while adding that the Aam Aadmi Party will oppose any such move by holding protests from villages to parliament to safeguard the rights of farmers and common people.

Earlier, during a high-level meeting of the tax department, the finance minister was apprised of the achievements of various divisions of the department regarding tax collection under GST, VAT and CST through a PowerPoint presentation. Meanwhile, a brainstorming discussion held on the issue of putting a full stop on tax evasion. The Finance Minister expressed satisfaction over the performance of the officials of the tax department and assured to provide necessary technical and human resources while welcoming the suggestions given by the officials to prevent tax evasion. He also made it clear that corruption will not be tolerated at any level.

          Ajoy Sharma, Financial Commissioner Taxation, K. K. Yadav, Tax Commissioner, Ravneet S Khurana, Additional Commissioner Audit and Viraj S. Tidke, Additional Commissioner Enforcement were also present in this meeting.