Business

GST Council Over-Flowing With Applications To Reduce Tax Rates

न्यूज़ वर्ल्ड इंडिया | 0
2533
| August 14 , 2017 , 19:21 IST

Ever since GST has been implemented, people from cobbler to manufacturers and shopkeepers to buyers, all are sending requests to the GST council to minimize the tax rates.

As per a source, the council's office is bombarded with similar applications every day on a variety of commodities.

GST was launched in India on July 1, dividing around 1,200 products in 4 different tax stabs - 5, 12, 18 and 28 percent. Many are unhappy with the brackets and demanding modifications.

Also Read: Soon You Can Compare Mobile Tariff Plans Of All Operators On TRAI's Website

As India moves towards being the hub of Information Technology, many IT professionals are now seeking to get GST on IT products slashed from 18 to 12 percent along with tax reduction on IT hardwares from 28 to 18 percent.

People are also requesting tax reduction on snacks like chips, namkeen along with helmets and sweets. GST on meat, fish, sanitary napkins, fuels and other necessities are also items on this list.

Also Read: Lok Sabha 2019 Elections To Be Advanced To 2018 To Link With State Polls?

A request for uniform tax on all products manufactured through the same set of machines and equipment has also been made. Even the packaged drinking water which had to face a sudden rise in prices due to imlementation of 18% GST is requested to be nullified.

Over 133 different products that have been filed for tax reduction include both luxury and necessary items. GST council has forwarded some of the requests to fitment committee for further course of action.