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GST council loaded with tax-tweak requests on 133 product categories

New Delhi: The GST council has its platter full of requests for slashing tax rates. From ceramic tiles, vehicles to…

By gta_admin , in National News , at August 16, 2017 Tags: ,

New Delhi: The GST council has its platter full of requests for slashing tax rates. From ceramic tiles, vehicles to packaged food products, the industry has been suggesting proposals for tweaking rates on a variety of products. As per sources, the council, the highest policy making body for GST related concerns, has received suggestions for 133 different product categories. Post the introduction of GST, industry and stakeholders have expressed displeasure on various social media platforms. Besides the three tiered structure, the four tax slabs of 5,12, 18 and 28 have also resulted in a scope for further deliberations.

In many instances, these deliberations resulted into strikes. Traders and labour-intensive sectors suggested the new taxation structure would usurp their livelihoods. Of those who have formally registered their suggestions. The IT industry has suggested that GST should be 12% instead of 18% as it would impair employment prospects. The sector also sought a tax-cut from 28% to 18% on hardware products.

In another case, helmet manufacturers sought that GST should have been reduced from 18% to 5%. Textile industry has been asking for rate cut from 5% to nil, tractors for 5% from 12% while granite industry is demanding rate cut from 28% to 18%. According to experts, the GST council refers these requests to a fitment committe to scrutinize the merit in the demands and upon recommendetations takes it up for an approval.

The requests extends across various product categories ranging from tractors, sanitary pads, agriculture implements, construction products, bio fuels and a host of other product categories.

 

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