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The Bengal has raised the threshold limit for an e-way bill of goods for intrastate movement. Now, the limit is up to Rs. 1 lakh which was previously up to Rs 50,000.
Following the implementation of GST in India, many shopkeepers are glad because of the reduced rates of their products while many others including the sweet sellers of West Bengal are unhappy because of increased tax rates on their products.
The West Bengal government said that the take off of Goods and Services Tax ought to be conceded in perspective of the enormous destabilizing move of demonetization till the economy was back on track.
Construction Chemicals producing firm Hindcon Chemicals Ltd suddenly changed its mind while placing their new plant earlier in the north. The sources said that in a meet, the company has now decided to project its new plant in the west.
The goods and services tax has proved to be a problem for even states too as the latest news from the finance minister of West Bengal Amit Mitra has confirmed. The minister said that there is a revenue shortfall of around 39,000 crores in the first four months of revenue collections which is much less than estimated.
Rural states those have low per-capita income such as Madhya Pradesh, Odisha, Bihar, Uttar Pradesh, Rajasthan, and West Bengal have contributed a lot in regards to the sales of automobiles post GST.
Asim Dasgupta was the previous Finance Minister of West Bengal who managed the Empowered Committee of State Finance Ministers.
As the deadline given by the government to implement the GST is only one month away, there are still 7 states who have not passed State GST bill. Apart from Jammu and Kashmir ruled by the BJP-PDP alliance in these states, states like West Bengal and Tamil Nadu also needs to pass a bill to implement GST in their states
Congress pioneer Jairam Ramesh said the party was always speaking with West Bengal Finance Minister Amit Mitra, who is the executive of the empowered committee of state finance ministry. The parties have been in contact with each other and more than a few outstanding issues in regards to the execution of the Goods and Services Tax, in front of a two-day meeting of the GST Council.
