23rd GST Council Meeting started today in Guwahati and for two days it will be discussing upon tax rates nearly on 150-200 items. Post GST implementation, traders and around six lakh business entities have wide expectations from Finance Minister Arun Jaitley.
According to the traders, If the tax officials concerns on GSTN technical issues and reduction in tax rates and find – out some solutions on this, then definitely millions of business entities will get relaxation. Through this, their businesses can come on track.
According to Praveen Khandelwal, General Secretary of CAIT, Post GST implementation, items coming under 28 percent slab rate has become more costly. In such conditions, the government has to reduce the tax rates of several products. If the government reduce the tax rates of several products the demand for products will enhance and ultimately the economic conditions and trade will improve.
It has been four months since GST was implemented in the country, yet taxpayers are facing problems in filing returns at GSTN portal. 3 years ago, the government handled GSTN system to the Infosys for about Rs 1,400 crore still not fulfilling the expectations of the government. Several times the government has to extend the deadlines of filing returns of July month due to the technical issues at GSTN portal and currently the deadline has been extended to 30th November. For the successful implementation of GST reform in India, it is essential that GSTN functioning properly.
Currently, 28 percent GST levied on items such as a sink, wash basin, shower bath, lavatory pan, seats and cover, wires, furniture, electric switches, bidets, plastic pipes and plastic sanitary ware. The government is also charging 28 percent tax rate on supplements and nutritional drinks. Aforementioned are some of the items on which the government is levying 28 percent GST rate which demands to be taken into concern as soon as possible.
