Bhiwandi Powerloom Industry Seeks Relief From GST ITC-04 Penalties, Calls Bill-Wise Reporting Burden Difficult For Small Units

Bhiwandi, a prominent textile manufacturing center in India, is facing challenges in complying with the Goods and Services Tax (GST) ITC-04 form due to its bill-wise reporting requirements, according to representatives from the local powerloom industry. Small and medium-sized enterprises within the predominantly unorganised sector expressed difficulty in maintaining detailed records and entering information separately into the prescribed form, which they felt created an undue burden on their businesses.

At a meeting between industry representatives and departmental officials, industry leaders demanded the withdrawal of existing penalty notices issued for compliance with ITC-04 and proposed a simpler alternative suited to the local powerloom sector's characteristics. The representatives also questioned the practicality of requesting such detailed data from small operators, who might not have the necessary infrastructure or accounting systems to maintain the necessary records.

They argued that any issues with compliance should be resolved before imposing penalties on these small businesses. Commission Raghu Kiran assured the industry representatives that their concerns would be addressed sympathetically and that a suitable decision would be taken after considering the matter.