The goods and services tax has entered its last phase after going through months of complex discussions and managing financial reforms. The 14th meeting held recently in Srinagar went way ahead and made tax rates fitment on nearly all the goods and services subsequently in the two days extension.
It has been seen that various sectors are happy and have supported the new tax rates while on the other side of the story, there are some sectors which are totally opposing the new tax laws. As of now, the GST bill is being seen as a revolutionary tax change globally. But many industries and sectors are showing their own dissatisfaction in this new tax scheme and the businessmen community of car spare parts and accessories from Delhi region are not at all convinced with the decision.
Known as the Asia’s largest spare parts market in Kashmiri Gate, Delhi has shown intense desperate with the influx of GST bills. They are protesting against the higher implication of GST rate in the sector and have shown their discontent by the black bandage on their hands. These businessman communities are not at all happy and are against the 28% GST rates set on spare parts, tractor parts and car accessories.
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According to Automotive Parts Merchant Association, auto parts and car accessories cost 12.5% and tractor parts 5% VAT, but now the rate of GST has been decided at 28%. The association main leaders Vishnu Bhargava and Vinay Narang have demanded that the tax rate of 28% should be reduced to 18%.
Brajesh Goyal of the Aam Aadmi Party’s Trade Wing has claimed to keep the demands of businessmen in front of the Chief Minister of Delhi. Trade Wing will ask the Delhi government to send a letter to Union Finance Minister Arun Jaitley in this regard while other measures will be taken as soon as possible.
Had been a supporter of BJP for its clean image but now it’s intentions seem different.
Snatching the livelihood of small business people and workers working in shops and they expect to be chosen in 2019.
Let’s see if we ourself could even survive till 2019 to vote against BJP
Government is looking forward to pass benefit to big business houses in long run …. people are ready to pay taxes but they should be reasonable ….
Whats the logic of keeping spare parts business under 28% tag,
Accountancy will b an additional head that will increase burden on small businessman.
Every businessman has to file return on every 10th day and an accumulated return on following month … Do government publish its expense sheet every month?
Small business person will not be entitled for credit input benefit which he/she can not pass on to its client resulting in loss of client.
The proforma is made in such a way the Tax band remaining same will not give same benefit to small business houses as compared to big business houses, which will result in huge social disparity.
Spare parts industry is backbone of nation 28% of tax slab n this disparity among big n small business houses shows the intention of government.
One should not forget its the same party that opposed GST @ 14% and now imposing @ highest tax band of 28% which is highest in world for any country having GST.
GST Rates on Automobile Spare Parts should be 18% and Tractor Parts should be 12%.
Sir automobiles is no longer a luxury but a necessity. By putting it in the highest slab of taxation the prices of spares manufactured by small industries will not be able to compete with the large industries and hence will be rendered useless.
Dear Bhavesh Shah,Even though Automobiles is No longer Luxury but this is done to reduce sale of Vehicles and reduce pollution.Use Public Transport
Rates should not more than 18% .or motor parts business will suffer loses.
AGREE FULLY. AUTOMOTIVE MARKET WILL BE DEVASTATED FOR NEXT 6 MONTHS.INFLATION WILL GO UP.