27/07/2018

Private Security Agencies Demands ‘Reverse Charge Mechanism’ For GST


Owners and employees of Private Security Industry staged a silent protest at India Gate on 18th July, 2018 and demanded streamlining of GST rules for the industry which is forcing closure of private security agencies due to financial burden. They demanded immediate implementation of ‘Reverse Charge Mechanism’ for GST payment so that payment of GST is done directly by service receiver (Principal Employer) to the government and those running private security agencies should not be burdened by it.

“The major issue, which is forcing owners to close down their companies, is the methodology of depositing GST. The GST has to be deposited by the Security Agencies on 20th of the Month in which the Bill has been raised. However, the payment of these Bills is received by these Agencies only after 60-90 Days or more. Thus, the Cash Flows of this low-margin Industry gets impacted seriously due to 2-3 months delay in getting payments. We have to carry this huge back-breaking burden,” said CAPSI Chairman. Gathered under the banner of Central Association of Private Security Industry (CAPSI), owners and employees of Private Security Industry staged silent protest in support of their demands. Similar protests were also organized in all state capitals across the country by CAPSI members.




No comments:

Post a Comment