• twitter-icon
Unlimited Tax Return Filing


Pending GST Refund Forces Businessman To Call GST Council

GST Refund Forces Businessman

In a tackling situation for the members of the Jalandhar-based rubber goods industry, they are thinking of approaching the GST (Goods and Services Tax) council as they are not getting a GST refund.

The members told about their concern to the Industries Minister and Finance Minister about the refund that they are not getting and even the problems faced by the industries after the implementation of Goods and Services Tax (GST).

Rate differences on raw material and finished goods lead to issues within the supply chain and the capital, said RK Gandhi, adviser, Jalandhar Rubber Goods Manufacturer Association.

Read Also: Goods and Services Tax Impact on the Prices of Natural Rubber

He also said, “When the GST on the raw materials such as natural rubber is 5 percent, packing material, it is 12 percent, and on chemicals 18 percent, but on finished goods i.e. rubber footwear, it is only 5 percent”.

The manufacturers regret the fact that this difference was creating problem to their capital which is making for them to impossible to continue manufacturing for some more time.

The manufacturer explained them the problem saying that on the purchase of raw material they must get Rs 113 and get only Rs 105 on a sale of their product. Which means that the government must give them the remaining Rs 8 of Goods and Services Tax (GST) which they are not getting.

Recommended: Revised GST Slab Rates Finalized in the GST Council Meeting

It can be seen that from the day of implementation of Goods and Services Tax (GST) i.e. from July 1, 2017, many manufacturers of industries like- pipe fitting, rubber or others are not in a good condition.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Pooja Choudhary (Ex Employee)
Pooja Choudhary Born in Behror and brought up in Jaipur (Rajasthan) has been a student of Science till 12th. Persued her B. Tech from Poornima College of Engineering in Jaipur. Being from an IT field and not sticking to things compatible only with Technology. This interest marked her entry into the writing world she has the passion for writing and she began her career as a content writer in SAG Infotech Pvt. Ltd. Pooja is currently serving in SAG Infotech Pvt. Ltd. and provides article related to latest and future technologies. Her articles offer great details to the facts and the products. View more posts
SAGINFOTECH PRODUCTS

Leave a comment

Your email address will not be published. Required fields are marked *

Follow Us on Google News

Google News

Latest Posts

New Offer for Professionals

Super Tax Offer

Upto 20% Off
Tax, ROC/MCA, XBRL, Payroll, Online GST

Limited Offer, Hurry

Big Offer for Tax Experts

Upto 20% Discount on Tax Software

    Select Product*

    Current GST Due Dates