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3:03 pm - Friday April 20, 2018

G.S.T. Cut

Much harassed people and cornered over it the Government had to make drastic cuts in the G.S.T. rates. The rates are slashed in over 210 item and out of it 178 were in top slab of 28 per cent. With the start of G.S.T. on 1st July this year 250 items were in the 28 per cent slab of the G.S.T.

Now 50 item remain in top slabs include Car, A.C. aerated drink. Pan masala, perfumes tobbaco products-vacuum cleaner, washing machines, cement, oil paints, dish washes etc.

To keep cement in top slab appears to be irrationale decision. Many housing projects for poor people as well as ordinary persons under the schemes on the name of Prime Minister and Chief Ministers are going on. The banks have also lowered the house loan interest rates.

The cement is the biggest item of expenditure in house making. The highest G.S.T. on cement is quite contrary to all these incentives of social welfare. The Union Finance Minister Mr Arun Jaitely said that 28 per cent category was trimmed as macro-economic situation not looking bad.

The U.P.A regime Finance Minister Mr. Chidambaram send the panic stricken Government had no option but to go for it under public pressure. The Gujarat Elections forced it to heed advice of opposition and experts on the flows in the implementation of the G.S.T. In the Gujarat Elections the G.S.T. high rates have become a issue in the trading community along with whole nation.

The other major concession given to traders are doing away with filing of G.S.T. R-2 and G.S.T.R-3 during the current financial year. The G.S.T. council took into the consideration its portal system is not perfect in working.

It has also make drastic cut in penalty also. In delay in filing the return the penalty was Rs. 200 per day now it has been slashed to Rs. 50 per day. Those who are not liable to pay on late return penalty is rupee 20 per day.

The G.S.T. decision will come into effect from November 15. In urban areas many people who are not living with families and thousands who come to cities from out side of them eat at hotels and restaurants.

The G.S.T. of 18 per cent on them was very atrocious. Now it has been slashed to 5 per cent only. Still it is not proper to keep it at 5 per cent. It is should be totally abolished to zero per cent. There should not be any tax on “Roti-Kapada-Makan”. It are considered as basic necessities.

Posted in: Editorial

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