ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504, ficci@ficci.com

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

FinMin to examine pvt security industry demand for GST cut : Shukla 

The Pioneer , Aug 03, 2018

The finance ministry will examine the private security industry's demand to cut GST rate from 18 per cent at present, Minister of State for Finance Shiv Pratap Shukla said here.

The government is fully conscious of the significant contribution of the private security industry in creating jobs for the poor, those that have migrated from the villages, and ex-servicemen, he said.

"We have received a FICCI representation on the issue and will do whatever is possible to reduce the 18 per cent GST levied on the industry," he said at an event here.

He also invited a delegation of the industry to discuss the matter.

There is a merit in the demand for reduction in GST rate to 5 per cent as this industry generates roughly 5 lakh job yearly, Rituraj Sinha, chairman of FICCI committee on private security industry, said at the event.

Such relief, he said, would also greatly benefit the small players who have to bear the burden of interest costs as they have to borrow to deposit GST in advance.

Private Security has emerged as an essential service to support the government machinery in homeland security activities. With reduction in the GST tax rate from 18 per cent to 5 per cent, pressure from customers on manpower reduction is likely to ease significantly, resulting in job protection for private security guards, Sinha said.

Lower Goods and Services Tax rate is also likely to boost volume of work orders, thereby paving way for demand expansion and resultant increase in skill development activities as well as employment generation by private security sector, he added.

 

 

Also Read

Govt. considers FICCI's plea to minimise impact of GST on private security industry

Industry & Government must partner for Skilling, Reskilling and Upskilling of the workforce: Dharmendra Pradhan

Finance ministry to examine private security industry demand for GST cut: MoS finance     

17 security guard agencies to train over 3 lakh guards under the govt scheme     

FinMin to examine pvt security industry demand for GST cut: Shukla     

Private security agencies want skilled people, lesser GST     

FICCI organises Private Security Industry Conclave     

17 security guard agencies to train over 3 lakh guards     

FinMin to examine pvt security industry demand for GST cut: MoS Finance Shukla     

FinMin to examine private security industry demand for GST cut: MoS Finance Shukla     

GST rate cut coming? Here is what is on the cards for security industry     

Minister of State for Finance, Mr. Shiv Pratap Shukla promises relief from the 18% GST levied on the security services industry, at present     

Finance Minister examining security industry's demand to cut GST rate : Minister     

Finance Ministry will do its best in reducing the 18% GST levied on private security industry: MoSF     

Industry & Govt must partner for skilling of the workforce: Pradhan     

Skilling of manpower critical for Private Security Industry to grow at 20-25%; 3 Lakh personnel to gain Recognition of Prior Learning (RPL) in Private Security Industry     

Sh. Dharmendra Pradhan, Hon’ble Minister of Skill Development & Entrepreneurship presides over the signing of MoU by 17 Private Security Agencies to train over 3 Lakh security personnel under the RPL Scheme     

Pradhan: Industry must partner Govt in skılling, reskilling, upskilling     

Haryana police bags FICCI award     

Haryana Police gets FICCI award     

Dharmendra Pradhan says Government, industries should collaborate to skill, re-skill and up-skill workforce     

Event:

 Private Security Industry Conclave (PSIC) 2018